Escrow is a legal concept describing a financial agreement whereby an asset or money is held by a third party on behalf of two other parties that are in the process of completing a transaction.
Escrow accounts are managed by the escrow agent. The agent releases the assets or funds only upon the fulfilment of predetermined contractual obligations. Money, securities, funds, and other assets can all be held in escrow.
Escrow is a financial process used when two parties take part in a transaction and there is uncertainty about the fulfilment of their obligations. Situations that may use escrow can involve Internet transactions, banking, intellectual property, real estate, mergers and acquisitions, law, and more.

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