Escrow Agreements (Sale of Goods)
An escrow arrangement is a form of security involving the deposit of any asset with an escrow agent. The asset may be goods, money, documents, information, computer source code (or other material containing intellectual property), or any other asset. The escrow agent is an independent entity trusted by, and appointed by, the other parties to the transaction concerned. The agent is required to release the asset only when a condition specified in the escrow arrangement has been fulfilled.
The Guidance Note - Escrow Arrangements in this subfolder more fully explains the concept of escrow. It gives examples of various types of escrow arrangement most often encountered. These include computer program source code deposit, tenant’s rental security deposit, sale of goods payment escrow, warranty escrow, document escrow, the use of deeds placed in escrow in conveyancing, and, in connection with share or business asset sales, payment of the balance of the price after completion once the price (based on value of the assets of the company/business) has been finally calculated, or deduction of an amount from the total price to settle a warranty/indemnity claim by the buyer.
The Guidance Note - Escrow Arrangements also lists various escrow documents which are available in the main folders on our website and where they can be located. Some, not all, of the documents are in this Escrow Agreements (Sale of Goods) subfolder.
In addition to the Guidance Note - Escrow Arrangements, this subfolder contains three alternative forms of Agreement for establishing an escrow arrangement in connection with payment of the purchase price on a sale of goods. The information page for each sale of goods escrow template explains in detail the circumstances in which it may be used.
- Guidance Note: Escrow Arrangements
- Escrow Sale of Goods Agreement with Delivery and Payment Terms
- Escrow Sale of Goods Agreement with Warranty and Payment Terms
- Escrow Sale of Goods Agreement with Inspection and Payment Terms
Escrow Agreements (Sale of Goods) is part of Business Documents. Just £35.00 + VAT provides unlimited downloads from Business Documents for 1 year.