What does the escrow agreement mean?

Custody refers to the temporary custody of an item by another party through oral or written documents, and the trustee has no right to use the item. There are many kinds of trusteeship, among which property trusteeship is the most common one. Property custody contract is an agreement signed by both parties that the owner entrusts the house and other property.

Second, detailed analysis

Generally speaking, you can keep your property, but in business situations, trusteeship plays a particularly prominent role. As the name implies, trusteeship is to give an item to another party for temporary storage by oral or written documents, and the trustee has no right to use the item. There are many kinds of trusteeship, among which property trusteeship is the most common one. Property custody contract is an agreement signed by both parties that the owner entrusts the house and other property.

3. What are the precautions for safekeeping?

1. To review whether the custodian institution is legally established, it is generally necessary to go through normal industrial and commercial registration procedures, and there will be corresponding certificates, which will indicate the business scope and other information;

There should be a clear payment agreement. In general, it is suggested that the names of the collection account and the payment account of both parties should be both parties to the contract, and the purpose of the money should be clearly stated when remittance is made;

3. In the process of contract performance, clear rights and obligations should be stipulated in the contract. If the other party is found to have violated its obligations, it shall claim its rights in time.