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This Escrow Agreement is established to define the terms for the escrow process associated with the sale of capital stock of a special purpose vehicle related to the Bahia Papagayo real estate project in Costa Rica. It details the responsibilities of the Seller, Purchaser, and Escrow Agent, including the handling and disbursement of funds, as well as conditions for termination and fees.

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How to fill out escrow agreement

01

Title the document as 'Escrow Agreement'.

02

Identify the parties involved in the agreement - the buyer, the seller, and the escrow agent.

03

Describe the purpose of the escrow arrangement, detailing the transaction being secured.

04

Outline the specific terms and conditions, including the payment amount and the timeline for the transaction.

05

Describe the responsibilities of the escrow agent, including the handling of funds and documentation.

06

Include instructions for what should happen under various circumstances (e.g., if the buyer or seller does not fulfill obligations).

07

Specify any fees associated with the escrow service and how these will be paid.

08

State the governing law that applies to the agreement.

09

Include spaces for signatures and dates for all parties involved.

Who needs escrow agreement?

01

Individuals or businesses participating in a real estate transaction.

02

Those buying or selling high-value items like vehicles or art.

03

Parties in online sales who want assurance of payment before delivery.

04

Companies entering into contracts requiring secure handling of funds.

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What is escrow agreement?

An escrow agreement is a legal arrangement in which a third party holds and regulates the payment of funds required for two parties engaged in a transaction.

Who is required to file escrow agreement?

Typically, the parties involved in a transaction that requires an escrow agreement are responsible for filing it, which may include buyers, sellers, and the escrow agent.

How to fill out escrow agreement?

To fill out an escrow agreement, parties need to provide information such as names, addresses, terms of the transaction, and details regarding the escrow agent. It's often recommended to consult with a legal professional.

What is the purpose of escrow agreement?

The purpose of an escrow agreement is to ensure that the funds or assets are safely held until all conditions of the transaction are fulfilled, thereby providing security to both parties.

What information must be reported on escrow agreement?

An escrow agreement must include information such as the identities of the parties involved, the escrow agent, the terms of the transaction, the amount being held in escrow, and the conditions for disbursement.

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