1. escrow - Noun
2. escrow - Verb
A deed, bond, or other written engagement, delivered to a third person, to be held by him till some act is done or some condition is performed, and then to be by him delivered to the grantee.
Source: Webster's dictionaryAs a result, NHL players agreed to defer 10 percent of their 2020-21 salaries with escrow capped at 20 percent. Source: Internet
An " escrow agent" is one kind of trustee who is a stakeholder, usually in a situation where part of the purchase price of property is being held until some condition is satisfied. Source: Internet
“Clients can open an escrow account in just a few clicks, however the buyer will have to be a Standard Bank client and fund the proceeds of the transaction from their Standard Bank transactional account using our digital banking channels,” said Chetty. Source: Internet
Curtis (2011) p. 836. To commence filming, Tracy had to be insured for the high premium of $71,000; Hepburn and Kramer both put their salaries in escrow until Tracy completed his scenes. Source: Internet
An amount equal to 15% of the purchase price will be paid into escrow to satisfy claims arising under the purchase agreement. Source: Internet
Key to the agreement was Sudan’s deposit of $335 million into an escrow account to pay compensation to victims of the 1998 bombings of the U.S. embassies in Kenya and Tanzania. Source: Internet