Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
As mentioned, the escrow agent is the main agency/person holding onto property or real estate assets in a trust for the third parties. This happens during the course of the purchase/sale transaction, and is also meant to safeguard both parties from any fraudulent transactions.
Escrow agents are often linked to transactions in the real state sphere. The real estate assets will be held by the agent, until both the parties have fulfilled their terms as mentioned in the contract. The escrow agent will be supervising and administering the completion of the real estate or property transaction. The escrow agent is an intermediary between both the parties.
