Escrow Account

Escrow Account in International Trade

Meaning of Escrow Account, according to the Dictionary of International Trade (Global Negotiator): A temporary pass through account held by a third party during the process of a transaction between two parties. This is a temporary account as it operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled. This term is mainly used in the United States.

Description of Escrow Account

In this reference work, escrow account is a sort of the Banking category.

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See Also