Escrow agreement - sustany/dvg GitHub Wiki

The escrow agreement is a contract entered by two or more parties under which an escrow agent is appointed to hold in escrow certain assets, documents, and/or money deposited by such parties until a contractual condition is fulfilled. In general terms, the escrow agreement should include:

• The identity of the escrow agent.
• The duties of both the escrow agent and the parties to the escrow agreement.
• The beneficiary of the escrow, which is commonly one of the parties entering the escrow agreement.
• The fees payable to the escrow agent.
• The jurisdiction in which any legal dispute arising under the escrow agreement shall be resolved.
• The escrow instructions to deliver the assets, documents, and/or money held in escrow.