Bristol Braille Technology

Escrow account in Latvia

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Escrow account – is an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party (usually a bank) receives and disburses money or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfilment of contractually-agreed conditions by the transacting parties. It is commonly used to support sale/purchase transactions, such as the purchase of a real estate, reducing the risk between the parties to the minimum, and providing a mechanism which ensures trust and confidence. http://www.immigration-residency.eu/real-estate/escrow-account/

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