A proceeds escrow agreement is a legal document that states that an organization after selling its securities has transferred its proceeds to a third party, sometimes referred to as an escrow agent. The third party establishes an account where all the proceeds are deposited. The agreement states all the terms and conditions agreed upon and entered into by both the parties and also the duties of the third party sometimes referred to as the broker.
The details that should be mentioned in a proceeds escrow agreement are as follows:
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