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Presented By Sonam Rawat, F02
Escrow Means: "Keep an amount (or document) in custody until a predefined condition is met“ Escrow Account Means: “A blocked bank account held with a neutral and financially trusted third party (Escrow Agent ) usually by a (Bank). .
Escrow Agent (Bank) confirms to the seller that the escrow amount and/or documents have been received in the escrow account.ESCROW ACCOUNTS PROCESS Buyer. seller and Escrow Agent (Bank) sign the escrow agreement Buyer deposits money and/or documents in escrow. Escrow Agent (Bank) manages the escrow account. . Seller performs the required services. Buyer accepts delivery and proof of acceptance is sent to Escrow Agent Escrow Agent (Bank) releases the money and/or documents in escrow.
BENEFITS It is easy to set-up an escrow agreement with tailor-made release conditions. The buyer can be sure that the money and/or documents will only be released as agreed in the escrow agreement. The seller is sure that the buyer has made the money and/or documents available to the trusted third party .
– CORUS GROUP PLC .TATA STEEL UK LTD.
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