What is an independent escrow agent?

What does an independent escrow agent mean? Read why neutrality is crucial for reliable escrow services in software and cloud.

An independent escrow agent is a party that has no commercial interest in the supplier or the customer. This neutrality is essential for the objective management of escrow arrangements.

Independent escrow agents act strictly in accordance with the escrow agreement. They protect the confidentiality of the materials and ensure that release only takes place under predetermined circumstances.

The reliability of an independent escrow agent is enhanced by certification (such as ISO 27001), transparent procedures, and controlled storage. This ensures that trust between all involved parties is guaranteed.