MEANING AND SIGNIFICANCE OF AN ESCROW AGREEMENT:
An escrow agreement defines the arrangement by which one party deposits an asset with a third person (called an escrow agent), who will in turn make delivery to another party if and when the specified conditions of the contract have been met. In other words, an escrow is a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Hereunder you could view a sample escrow agreement and have one custom drafted for your business or property needs.
