Escrow (in this meaning also said in German and neuter gender; more rarely translated as trust agreement)

In the financial market, a document concerning an agreement between two parties. This document remains with a third, independent party (escrow provider; trusted third party) until both contracting parties have fulfilled their obligations. – The purpose of an escrow is to secure obligations entered into. For example, an account may already be opened with an escrow provider. However, the escrow provider will not make any payment until it has been ensured that the contracting parties have fulfilled their obligations to their mutual satisfaction. – See interim custody.

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