Bitcoin Forum
November 25, 2017, 10:14:05 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: WHAT IS THE ECROW?  (Read 74 times)
josephpogi
Full Member
***
Offline Offline

Activity: 154



View Profile
November 04, 2017, 02:13:20 PM
 #1

Hi there i really want to know what is the meaning of escrow? Smiley

Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511604845
Hero Member
*
Offline Offline

Posts: 1511604845

View Profile Personal Message (Offline)

Ignore
1511604845
Reply with quote  #2

1511604845
Report to moderator
1511604845
Hero Member
*
Offline Offline

Posts: 1511604845

View Profile Personal Message (Offline)

Ignore
1511604845
Reply with quote  #2

1511604845
Report to moderator
1511604845
Hero Member
*
Offline Offline

Posts: 1511604845

View Profile Personal Message (Offline)

Ignore
1511604845
Reply with quote  #2

1511604845
Report to moderator
eldrin
Full Member
***
Online Online

Activity: 154



View Profile
November 04, 2017, 02:44:00 PM
 #2

What is 'Escrow'
Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations have been fulfilled. Money, securities, funds, and other assets can all be held in escrow.
© Investopedia

For example, the both of us will be having a deal, let's say I am gonna buy something from you, instead of directly giving you the payment, I'll give it first to the escrow (a person that both of us trusts), after I successfully received the item you are selling, the escrow will then give you my payment.

Or what we also call, MIDDLEMAN.

josephpogi
Full Member
***
Offline Offline

Activity: 154



View Profile
November 04, 2017, 02:47:15 PM
 #3

What is 'Escrow'
Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations have been fulfilled. Money, securities, funds, and other assets can all be held in escrow.
© Investopedia

For example, the both of us will be having a deal, let's say I am gonna buy something from you, instead of directly giving you the payment, I'll give it first to the escrow (a person that both of us trusts), after I successfully received the item you are selling, the escrow will then give you my payment.

Or what we also call, MIDDLEMAN.
Nice explain sir Smiley your explanation will clarify my mind thanks sir.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!