Escrow

An escrow is a legal arrangement in which money, documents, or other property are deposited with an independent licensed escrow agent to be held on behalf of the contracting parties until the agreed contractual conditions have been fulfilled. In Thailand, escrow arrangements are governed by the Escrow Act B.E. 2551 (2008), and licensed escrow agents are generally banks and certain authorised financial institutions.

For a detailed explanation of how escrow works in Thailand, including the Escrow Act B.E. 2551 (2008), buyer protection, and the risks of direct payments when purchasing off-plan property, read our articles -

• Buying Off-Plan Property in Thailand: Escrow Agreements and Buyer Protection

• The Escrow Act B.E. 2551 (2008).