Saturday, July 11, 2009 - 05:08 pm, by: Peter Burrett(Burrett)
Generally, and I'm not a lawyer, escrow services act as an intermediary between two contract partners. This can be to ensure payment is received and goods also, before the transaction is completed. That is, each party provides the escrow with their part of the deal, and when both are verified, the escrow services send the goods/services to the buyer and the money to the seller. They are also used to provide perpetual protection to intellectual property....for example, you buy some software, and you want to make sure that if the owner goes belly up, you can get the source code and bug fix it yourself....regards Peter Burrett
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