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For escrows of computer source code, see source code escrow. An escrow is: a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or.
An escrow account is a place where a third party holds money until all the details of a transaction are complete. An escrow account protects the seller from getting cheated out of full compensation for a business because the money is not transferred until all conditions of the sale are met. The buyer receives similar protection from fraud or an incomplete transfer of ownership.