In case of project abandonment, it also required the
escrow agent to submit a copy of the notice of such project abandonment to the SEC.
In February 2014, Bradshaw was retained as the
escrow agent for the sale of commercial property for the price of approximately $1.4 million.
Prior to accepting substitute investment securities or disbursing funds to the state, the
escrow agent must receive a new report from independent certified public accountants verifying the continued sufficiency of escrowed funds to meet all future payments of principal and interest on the refunded bonds.
In some cases, the QI and the
escrow agent may be the same party.
Malaysia-based Brahim's Holdings Bhd has appointed OCBC Bank (Malaysia) Bhd as its
escrow agent.
According to the court-approved bidding procedures, Lily will review the bids and announce the highest and best bid as the "successful bid" and the next highest as the "runner-up bid." The successful bidder is required to post a $100,000 good faith deposit, "which shall be wired, in immediately available funds, to an
escrow agent" of Lily's choosing pursuant to an escrow agreement acceptable to Lily and the successful bidder.
The first would have established an
escrow agent and an escrow account for credit institutions undergoing resolution -- a move intended to bypass the Central Bank.
The seller sends the signed original to the lender, title company or an
escrow agent who holds it in preparation for closing and filing.
YK, Doha A: An escrow arrangement is the deposit of purchase consideration with a neutral third party called the
escrow agent. The
escrow agent will act based on the terms of escrow agreement.
Information escrows allow people to transmit sensitive information to a trusted intermediary, an
escrow agent, who only forwards the information under prespecified conditions.
President UNISAME Zulfikar Thaver said SME exporters feel uncomfortable in exporting goods to unknown buyers and to secure themselves they are advised to transact business through ESCROW whereby as per arrangement money is delivered to a third party (
ESCROW agent) to be held in trust pending the fulfilment of condition in a contract whereupon the
ESCROW agent will deliver the payment to the seller.
The role of the
escrow agent can be performed by individuals from independent companies like our own, from agents of a bank and attorneys.
