The Escrow Agreement app will provide an agreement of sureties payments between the Trustees, the contractor, and the Escrow Agent.
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The Escrow Agreement will provide payment to the contractor of money that might not otherwise be released by the Trustees. The Escrow Agent must agree to hold the securities or deposit until the escrow is terminated and provide details about the market value of the securities.
The Trustees, Escrow Agent, and Contractor must all agree that the contractor will have the rights to the deposit and the total amount of the funds must be released unto the contractor at the end of the contract. Once the escrow is terminated the Escrow Agent will return to the contractor all securities or certificates of deposit.
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