An arrangement for the deposit of instruments and/or the handling of funds with instructions with a neutral third party to carry out the provisions of the agreement or contract when the specified conditions have been met.Informally short form to describe Escrow Agent Escrow Account or Escrow Period. E.g. Escrow (Agent) works closely with agents to close a transaction. The buyer deposits funds into Escrow (Account). Escrow (Period) is 30 days.