Escrow accounts
Escrow Account is a bank account used to deposit funds entrusted to the account holder by a third party (Payer). An Escrow Account is opened on the basis of a bilateral Escrow Account Agreement made between the account holder and DZ BANK Polska S.A. The Escrow Account Agreement sets forth the following in particular:
the documents which must be furnished or other conditions which must be met in order for the funds deposited on the Escrow Account by the Payer to be disbursed to the Account Holder or in order for the Account Holder's instructions concerning the use of such funds to be executed,
the terms on which funds on the Escrow Account are returned to the Payer.
How do you benefit:
each party to the transaction is protected against the risk of the other party's default.
