An escrow is an agreement often used when transferring funds in exchange for a good or service. Funds can be held in escrow and a third party can be chosen to "arbitrate" or approve the transfer when the service or good is provided.
We'll have three parties involved in the Escrow:
Depositor - The payer of the Escrow, makes the initial deposit that will eventually go to the beneficiary.
** Beneficiary** - The receiver of the funds. They will provide some service or good to the depositor before the funds are transferred by the arbiter.
Arbiter - The approver of the transaction. They alone can move the funds when the goods/services have been provided.
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