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Escrow generally refers to money held by a third party on behalf of transacting parties. It is mostly used regarding the purchase of shares of a company. It is best known in the United States in the context of the real estate industry (specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and ...
The earnest money goes into an escrow account controlled by a third party. Upon closing, the money is applied to the downpayment for the home. If the home purchase falls through, those funds may ...
Source code escrow is the deposit of the source code of software with a third-party escrow agent. Escrow is typically requested by a party licensing software (the licensee), to ensure maintenance of the software instead of abandonment or orphaning .
Work through a third-party company: ... Instead, they’ll direct you to put those payments into a special escrow account for payment when a settlement is reached. Debt settlement, sometimes ...
Key escrow (also known as a "fair" cryptosystem) [citation needed] is an arrangement in which the keys needed to decrypt encrypted data are held in escrow so that, under certain circumstances, an authorized third party may gain access to those keys.
Third-party debt settlement. ... requiring you to deposit a fixed amount into an escrow account monthly, sometimes spanning 24 to 36 months — a long time when you’re grappling with debt. These ...
A contract made in favor of a third party is known as a "third-party beneficiary contract." Under traditional common law , the ius quaesitum tertio principle was not recognized, instead relying on the doctrine of privity of contract , which restricts rights, obligations, and liabilities arising from a contract to the contracting parties (said ...
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