escrow
Meaning: A financial arrangement in which a third party holds money, documents, or assets on behalf of two other parties until specified conditions are met.
Escrow provides security for both buyer and seller in a transaction by ensuring that neither party receives what they want until both have fulfilled their obligations. In property transactions, the deposit may be held in escrow until completion. In technology, source code escrow protects licensees if a software vendor goes out of business. The phrase 'held in escrow' is the most common construction. Common collocations include 'escrow account,' 'held in escrow,' 'escrow agent,' and 'escrow arrangement.'
Examples
- The deposit of two hundred thousand pounds was held in escrow pending completion of the due diligence process. 二十万英镑的保证金在尽职调查完成之前由第三方托管。El depósito de doscientas mil libras se mantuvo en custodia hasta la finalización del proceso de diligencia debida.20万ポンドの保証金は、デューデリジェンスの完了まで第三者預託口座に保管された。20만 파운드의 보증금은 실사 절차가 완료될 때까지 에스크로 계좌에 보관되었다.
- Under the agreement, the software source code will be placed in escrow with an independent third party. 根据协议,软件源代码将交由独立第三方托管。Según el acuerdo, el código fuente del software será depositado en custodia ante un tercero independiente.契約に基づき、ソフトウェアのソースコードは独立した第三者にエスクローとして預けられる。계약에 따라 소프트웨어 소스 코드는 독립적인 제3자에게 에스크로로 예치된다.
- The escrow agent released the funds to the seller only after the buyer confirmed receipt of the goods. 托管代理人在买方确认收到货物后才将资金释放给卖方。El agente de custodia liberó los fondos al vendedor solo después de que el comprador confirmó la recepción de la mercancía.エスクロー代理人は、買い手が商品の受領を確認した後にのみ、売り手に資金を解放した。에스크로 대리인은 매수인이 물품 수령을 확인한 후에야 매도인에게 자금을 지급했다.
Pronunciation
Usage Guide
Context: legal, finance, property
Tone: neutral
Origin & History
From Anglo-French escrowe (a scroll, bond, deed held by a third party), from Old French escroe (a scrap, scroll), from Medieval Latin scrōda (a strip of parchment), of Germanic origin. Entered English legal usage in the late 16th century.
Cultural Context
Era: Modern
Generation: All ages
Social background: Universal
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