All escrow transactions are under signed contracts by all parties.
Simply put, escrow is the process when a neutral, third party is in charge of holding something of value—usually cash—until a transaction between a buyer and seller is complete.
The main job of escrow is to ensure a fair and smooth deal from beginning to end. You can use escrow accounts for other transactions like online shopping purchases (where the escrow service holds onto the money from the buyer until confirmation that the goods have been received).
Think of escrow kind of like a referee in a football game. They take no sides and make sure everyone is playing by the rules until the game is over.
LOWKEI offers escrow options on all purchases and transactions at the expense of the requester.