Money held by a neutral party until both sides of a deal have done what they agreed. The seller is paid only once the buyer confirms the goods arrived as described.
Key points
Neither side can take the money back alone.
Common for house sales, freelance work and marketplace orders.
The holder usually charges a small fee for the service.
Also calleda holding account, a trust account
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Source
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<p class="odl-kind" data-od-slot="kind" data-od-optional>Term · payments</p>
<h3 data-od-slot="title">Escrow</h3>
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<p class="odl-summary" data-od-slot="summary">Money held by a neutral party until both sides of a deal have done what they agreed. The seller is paid only once the buyer confirms the goods arrived as described.</p>
<section class="odl-points" aria-label="Key points">
<h4>Key points</h4>
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<li data-od-item data-od-template hidden><svg viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" aria-hidden="true"><path d="M20 6 9 17l-5-5"/></svg><span data-od-slot="text"></span></li>
<li data-od-item><svg viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" aria-hidden="true"><path d="M20 6 9 17l-5-5"/></svg><span>Neither side can take the money back alone.</span></li>
<li data-od-item><svg viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" aria-hidden="true"><path d="M20 6 9 17l-5-5"/></svg><span>Common for house sales, freelance work and marketplace orders.</span></li>
<li data-od-item><svg viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-linecap="round" stroke-linejoin="round" aria-hidden="true"><path d="M20 6 9 17l-5-5"/></svg><span>The holder usually charges a small fee for the service.</span></li>
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<p class="odl-aka" data-od-optional><b>Also called</b> <span data-od-slot="also_called">a holding account, a trust account</span></p>
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