escrow
Speech parts
1. escrow - Noun
2. escrow - Verb
Meaning
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 dictionarySynonyms
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Examples
As a result, NHL players agreed to defer 10 percent of their 2020-21 salaries with escrow capped at 20 percent.
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.
“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.
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.
An amount equal to 15% of the purchase price will be paid into escrow to satisfy claims arising under the purchase agreement.
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.