Escrow Account definition: Copy, customize, and use instantly
Introduction
The term "Escrow Account" refers to a financial account managed by a neutral third party to hold funds, assets, or documents on behalf of transacting parties until specific conditions are met. It is essential for ensuring trust and security in financial transactions, providing a mechanism to safeguard interests until agreed-upon terms are fulfilled.
Below are various examples of how "Escrow Account" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Escrow Account" as a real estate transaction account
This definition ties "Escrow Account" to property transactions.
"Escrow Account" means a financial account established to hold funds related to a real estate transaction, such as down payments or closing costs, until all contractual obligations are satisfied, including property title transfer.
Definition of "Escrow Account" as a merger and acquisition account
This definition connects "Escrow Account" to corporate deals.
"Escrow Account" refers to a financial account used during mergers or acquisitions to hold funds, shares, or other assets until the conditions of the agreement, such as regulatory approvals or performance milestones, are met.
Definition of "Escrow Account" as a construction payment account
This definition links "Escrow Account" to construction projects.
"Escrow Account" means an account used in construction projects to hold payments due to contractors, subcontractors, or suppliers, ensuring funds are disbursed only upon completion of agreed project milestones.
Definition of "Escrow Account" as a legal settlement account
This definition applies "Escrow Account" to dispute resolution.
"Escrow Account" refers to a financial account established to hold settlement funds in legal disputes until all settlement terms, such as the execution of releases or court approvals, are fulfilled.
Definition of "Escrow Account" as a performance-based account
This definition ties "Escrow Account" to conditional obligations.
"Escrow Account" means an account established to hold funds or assets as collateral, ensuring compliance with performance obligations outlined in a contract or agreement before the release of the escrowed items.
Definition of "Escrow Account" as a joint venture fund account
This definition connects "Escrow Account" to joint ventures.
"Escrow Account" refers to an account created to hold joint venture contributions from participating parties, ensuring funds are used exclusively for the agreed project or venture purposes.
Definition of "Escrow Account" as a tax payment account
This definition links "Escrow Account" to tax obligations.
"Escrow Account" means an account used to hold funds designated for tax payments, such as property taxes or income taxes, ensuring timely and accurate payment to the relevant tax authorities.
Definition of "Escrow Account" as a software source code escrow account
This definition applies "Escrow Account" to technology agreements.
"Escrow Account" refers to an account used to hold software source codes or other intellectual property, ensuring the release of such materials to the licensee only if specific conditions, such as vendor default, are met.
Definition of "Escrow Account" as a government compliance account
This definition ties "Escrow Account" to regulatory adherence.
"Escrow Account" means an account established to hold funds required by governmental or regulatory bodies, ensuring compliance with laws or conditions, such as environmental remediation or licensing fees.
Definition of "Escrow Account" as a warranty reserve account
This definition connects "Escrow Account" to product warranties.
"Escrow Account" refers to an account used to hold funds reserved for warranty claims, ensuring resources are available to fulfill warranty obligations for products or services provided under a contract.
Definition of "Escrow Account" as a licensing agreement account
This definition links "Escrow Account" to intellectual property.
"Escrow Account" means a financial account used in licensing agreements to hold fees or royalties until the terms of the license, such as delivery of materials or compliance with usage terms, are met.
Definition of "Escrow Account" as an investment transaction account
This definition applies "Escrow Account" to financial investments.
"Escrow Account" refers to an account used in investment transactions to hold funds or securities until the completion of due diligence, approval by all parties, or other transaction conditions.
Definition of "Escrow Account" as a contingency reserve account
This definition ties "Escrow Account" to contingency planning.
"Escrow Account" means an account established to hold funds reserved for contingencies, such as unforeseen liabilities, ensuring resources are available to address unexpected events during a contract's execution.
Definition of "Escrow Account" as a business sale proceeds account
This definition connects "Escrow Account" to business transactions.
"Escrow Account" refers to an account used to hold proceeds from the sale of a business until all conditions of the sale agreement, such as transfer of ownership or regulatory clearances, are satisfied.
Definition of "Escrow Account" as a debt repayment account
This definition links "Escrow Account" to debt management.
"Escrow Account" means an account established to hold funds designated for debt repayment, ensuring that payments are made to creditors according to the agreed schedule or conditions.
Definition of "Escrow Account" as a supplier payment account
This definition ties "Escrow Account" to vendor transactions.
"Escrow Account" means an account established to hold payments for suppliers, ensuring funds are released only after the delivery and verification of goods or services as agreed in the purchase agreement.
Definition of "Escrow Account" as a payroll reserve account
This definition connects "Escrow Account" to employee compensation.
"Escrow Account" refers to an account set up to hold payroll funds, ensuring employees are paid on schedule and in compliance with labor laws and contractual agreements.
Definition of "Escrow Account" as a litigation hold account
This definition links "Escrow Account" to legal proceedings.
"Escrow Account" means an account established to hold funds or assets during ongoing litigation, ensuring that resources are available to satisfy a potential judgment or settlement.
Definition of "Escrow Account" as a dividend distribution account
This definition applies "Escrow Account" to shareholder payments.
"Escrow Account" refers to an account used to hold funds designated for dividend distributions to shareholders, ensuring that payments are made only after meeting regulatory and corporate compliance requirements.
Definition of "Escrow Account" as a student tuition reserve account
This definition ties "Escrow Account" to educational payments.
"Escrow Account" means an account established to hold tuition payments, ensuring funds are allocated appropriately for educational purposes, such as course fees, materials, or institutional expenses.
Definition of "Escrow Account" as a deferred payment account
This definition connects "Escrow Account" to staged payments.
"Escrow Account" refers to an account used to hold deferred payments, ensuring that funds are released to the beneficiary only upon fulfillment of predetermined contractual milestones or obligations.
Definition of "Escrow Account" as an insurance premium account
This definition links "Escrow Account" to insurance transactions.
"Escrow Account" means an account set up to hold insurance premiums, ensuring funds are available for disbursement to insurers or beneficiaries upon the occurrence of specified insured events.
Definition of "Escrow Account" as a crowdfunding reserve account
This definition applies "Escrow Account" to fundraising.
"Escrow Account" refers to an account established to hold funds raised through crowdfunding campaigns, ensuring that the funds are released only when the fundraising goals or project milestones are achieved.
Definition of "Escrow Account" as a subscription reserve account
This definition ties "Escrow Account" to service subscriptions.
"Escrow Account" means an account used to hold funds for subscription-based services, ensuring payments are made periodically and only for the services rendered during the subscription period.
Definition of "Escrow Account" as a royalty distribution account
This definition connects "Escrow Account" to royalty management.
"Escrow Account" refers to an account set up to hold and manage royalty payments, ensuring that funds are distributed to rights holders according to licensing or contractual agreements.
Definition of "Escrow Account" as a public project funding account
This definition links "Escrow Account" to government projects.
"Escrow Account" means an account established to manage funds allocated for public infrastructure or community projects, ensuring transparency and compliance with regulatory or contractual conditions.
Definition of "Escrow Account" as a financial aid disbursement account
This definition applies "Escrow Account" to student funding.
"Escrow Account" refers to an account used to hold financial aid funds, ensuring that disbursements are made directly to educational institutions or students according to eligibility criteria and program guidelines.
Definition of "Escrow Account" as a lease payment reserve account
This definition ties "Escrow Account" to lease agreements.
"Escrow Account" means an account established to hold lease payments, ensuring funds are transferred to landlords or lessors only after all lease terms and conditions are met.
Definition of "Escrow Account" as a disaster relief fund account
This definition connects "Escrow Account" to emergency aid.
"Escrow Account" refers to an account set up to hold and manage disaster relief funds, ensuring that financial resources are disbursed to affected individuals or organizations in accordance with relief program guidelines.
Definition of "Escrow Account" as a charitable donation account
This definition links "Escrow Account" to philanthropy.
"Escrow Account" means an account used to hold charitable donations, ensuring funds are allocated to beneficiaries or causes as specified by donors or charitable organizations.
Definition of "Escrow Account" as a loan disbursement account
This definition ties "Escrow Account" to loan agreements.
"Escrow Account" means an account set up to hold loan disbursements, ensuring that the funds are released to the borrower only after certain conditions or milestones, as outlined in the loan agreement, are met.
Definition of "Escrow Account" as a product warranty reserve account
This definition connects "Escrow Account" to product warranties.
"Escrow Account" refers to an account used to hold funds for product warranty claims, ensuring that the manufacturer or seller has adequate resources available to honor warranty obligations under the terms of the sale agreement.
Definition of "Escrow Account" as a seller's deposit account
This definition links "Escrow Account" to property transactions.
"Escrow Account" means an account where a seller's deposit is held until specific conditions of a property sale or contract are fulfilled, such as inspections or title transfer.
Definition of "Escrow Account" as a tax withholding account
This definition applies "Escrow Account" to tax-related transactions.
"Escrow Account" refers to an account where funds are held for tax withholdings, ensuring that the correct amount of taxes is withheld from payments made to employees, contractors, or other recipients before the final disbursement.
Definition of "Escrow Account" as a performance bond account
This definition ties "Escrow Account" to contractual performance guarantees.
"Escrow Account" means an account where funds are held as part of a performance bond in a contract, ensuring that the contractor or service provider fulfills their obligations before the release of the payment.
Definition of "Escrow Account" as a prepayment reserve account
This definition connects "Escrow Account" to prepayment agreements.
"Escrow Account" refers to an account where prepayments for services or goods are held until the agreed-upon terms of the contract are fulfilled, ensuring that the service provider or supplier meets their obligations before the funds are released.
Definition of "Escrow Account" as an intellectual property escrow account
This definition links "Escrow Account" to intellectual property transactions.
"Escrow Account" means an account where intellectual property rights, such as source code or patents, are held until certain conditions, like compliance with licensing terms or the failure of a business to continue, trigger their release.
Definition of "Escrow Account" as a legal compliance escrow account
This definition applies "Escrow Account" to regulatory compliance.
"Escrow Account" refers to an account where funds are held to ensure compliance with legal or regulatory obligations, such as securing funds for penalties or to satisfy contractual performance guarantees.
Definition of "Escrow Account" as a contractor guarantee account
This definition ties "Escrow Account" to construction agreements.
"Escrow Account" means an account used to hold funds as a guarantee for contractor performance on a construction project, ensuring that funds are available if the contractor fails to meet the project’s requirements or timelines.
Definition of "Escrow Account" as a purchase price adjustment account
This definition connects "Escrow Account" to business transactions.
"Escrow Account" refers to an account where a portion of the purchase price in a business sale is held until any adjustments are made according to the final value of assets, liabilities, or inventory.
Definition of "Escrow Account" as a seller financing account
This definition links "Escrow Account" to financing arrangements.
"Escrow Account" means an account where funds are held for seller-financed transactions, ensuring that the buyer's payments are secured and distributed to the seller according to the agreed terms of the financing arrangement.
Definition of "Escrow Account" as a joint venture funding account
This definition ties "Escrow Account" to collaborative business ventures.
"Escrow Account" refers to an account used by joint venture partners to hold their contributions until all parties agree on the initial project plan, distribution of profits, or completion of regulatory requirements.
Definition of "Escrow Account" as a franchise royalty account
This definition applies "Escrow Account" to franchise agreements.
"Escrow Account" means an account where franchise royalty payments are held, ensuring that the funds are distributed to the franchisor only after compliance with specific franchise obligations or milestones is verified.
Definition of "Escrow Account" as a security deposit account
This definition connects "Escrow Account" to lease agreements.
"Escrow Account" refers to an account where security deposits are held by the landlord or lessor, ensuring that funds are available to cover potential damages or unpaid rent at the end of the lease term.
Definition of "Escrow Account" as a mutual fund escrow account
This definition links "Escrow Account" to investment funds.
"Escrow Account" means an account used to hold investments in mutual funds, where the funds are held until the investor’s requirements or eligibility criteria are met for the transfer of ownership or redemption.
Definition of "Escrow Account" as a merger transaction account
This definition ties "Escrow Account" to corporate mergers.
"Escrow Account" means an account where funds are held during a merger or acquisition transaction, ensuring that certain financial contingencies, such as debt repayment or performance milestones, are met before the final transfer of funds.
Definition of "Escrow Account" as a startup investment account
This definition connects "Escrow Account" to venture capital.
"Escrow Account" refers to an account used to hold venture capital funds until the startup meets certain performance or business milestones, ensuring that the funds are used as agreed by investors and founders.
Definition of "Escrow Account" as an asset protection account
This definition links "Escrow Account" to wealth management.
"Escrow Account" means an account used to protect assets, where funds are placed in escrow for safeguarding during divorce, business dissolution, or other legal proceedings.
Definition of "Escrow Account" as a construction bond account
This definition applies "Escrow Account" to construction bonds.
"Escrow Account" refers to an account where funds are held as part of a construction bond, ensuring that money is available to cover any costs arising from contractor failure to fulfill their obligations under the contract.
Definition of "Escrow Account" as a capital expenditure reserve account
This definition ties "Escrow Account" to capital budgeting.
"Escrow Account" means an account used to hold funds designated for future capital expenditures, ensuring that the necessary funds are available for business investments and long-term improvements.
Definition of "Escrow Account" as an intellectual property transaction account
This definition connects "Escrow Account" to IP deals.
"Escrow Account" refers to an account where payment for intellectual property transactions is held until conditions such as delivery or verification of IP assets (e.g., patents or copyrights) are met.
Definition of "Escrow Account" as a pension fund account
This definition links "Escrow Account" to retirement savings.
"Escrow Account" means an account used to hold pension or retirement savings, ensuring that funds are allocated and distributed according to the beneficiary's plan and legal requirements.
Definition of "Escrow Account" as an insurance claim account
This definition applies "Escrow Account" to insurance claims.
"Escrow Account" refers to an account used to hold insurance settlement funds until the conditions of the claim are met, ensuring that the funds are available to cover losses or damages as per the policy terms.
Definition of "Escrow Account" as an e-commerce transaction account
This definition ties "Escrow Account" to online marketplaces.
"Escrow Account" means an account used to hold funds for e-commerce transactions, ensuring that payments are only released to sellers once goods have been verified as delivered or services rendered as agreed.
Definition of "Escrow Account" as a property management reserve account
This definition connects "Escrow Account" to property management.
"Escrow Account" refers to an account used by property managers to hold funds for future property maintenance, taxes, or insurance premiums, ensuring that the necessary financial resources are available when required.
Definition of "Escrow Account" as a rent deposit account
This definition links "Escrow Account" to tenant agreements.
"Escrow Account" means an account where a tenant’s rent deposit is held, ensuring that funds are available to cover any damages or unpaid rent upon the end of the lease term.
Definition of "Escrow Account" as a fund distribution account
This definition applies "Escrow Account" to fund distribution.
"Escrow Account" refers to an account used to distribute funds to multiple beneficiaries, ensuring that each party receives the correct amount based on predefined terms and conditions.
Definition of "Escrow Account" as a project financing account
This definition ties "Escrow Account" to project management.
"Escrow Account" means an account used to hold project funds, ensuring that payments are only made to contractors, suppliers, or service providers after the completion of agreed-upon project phases or deliverables.
Definition of "Escrow Account" as a tax escrow account
This definition connects "Escrow Account" to tax compliance.
"Escrow Account" refers to an account used to hold funds designated for tax payments, ensuring that the necessary tax obligations are fulfilled by the due date, particularly in complex tax situations such as mergers or business acquisitions.
Definition of "Escrow Account" as a franchise fund account
This definition links "Escrow Account" to franchise operations.
"Escrow Account" means an account used by franchisors to hold franchisee contributions for certain operational purposes, ensuring that funds are allocated as intended and only for approved expenditures.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.