Escrow explained
13 September 2012
Although escrow - where a third party acts as guarantor in negotiations - is normally confined to IT, purchasers need to be aware of how it can affect them, says Ken Burnett
Escrow is a term that most of us encounter infrequently. It is characteristically associated with the world of IT, where escrow agreements are a useful device to bring into play in those cases where the supplier becomes, or in the view of the buyer is likely to become, insolvent.
If the buyer has no reason to suppose that insolvency is in prospect, appropriate...