escrow account
A type of balance typically funded by a buyer with the necessary Funds for a Transaction that will only be released to a seller subject to both parties agreeing that some specified condition has been met. An individual buying real estate abroad with Domestic Currency would need to do a forex transaction to buy the required foreign currency in order to deposit it into the foreign escrow account set up by their agent for the property deal.
Browse by Subjects
function
tax free
total invoice value
issuer
prior charge percentage