Escrow account

This query is : Resolved 

08 July 2016 WHAT IS ESCROW ACCOUNT & IS OBJECTIVE

Profile Image

Guest

Profile Image

Guest (Expert)
09 July 2016 It is like a "Blocked & Separated Money" in a Bank account which will be used for specific purpose & after the purpose or transaction is completed,then that money will be freely used by the user.
This account helps third parties to clear their cheques against escrow account,the cheque will never bounce if it is against escrow account.
For more info : https://en.wikipedia.org/wiki/Escrow



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries