Escrow Service
Escrow is a service that a bank offers to insure the risk of payment and ownership transfer.
What Is Escrow Service?
It is possible to reduce the risks related to payment and ownership transfer in buying and selling through a legal mechanism. Escrow is a service offered by banks to insure against these risks. The funds of the parties involved in a specific transaction are held in an escrow account, and the bank transfers the money to the relevant party only after the obligations between the parties are fulfilled or the bank receives an appropriate order to release the funds.
Escrow services can be used by both individuals and legal entities, residents and non-residents.
