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Escrow Agreement For Sale Of Goods
ESCROW AGREEMENT FOR SALE OF GOODS
Agreement made [Date of agreement], between [Name of assignor], of [Address of assignor], [City of assignor], [State of assignor], in this agreement referred to as assignor, [Name of assignee], of [Address of assignee], [City of assignee], [State of assignee], in this agreement referred to as assignee, and [Name of escrow agent], of [Address of escrow agent], [City of escrow agent], [State of escrow agent], in this agreement referred to as escrow agent.
SECTION ONE:
UNDERLYING AGREEMENT
Assignor entered into an agreement with [Name of buyer], of [Address of buyer], [City of buyer], [State of buyer], buyer, on [Date of sale], for the purchase from assignor of [Quantity] [Type of goods] for $ [Amount paid] Dollars. The agreement required the goods to comply with the following specifications: [Description of specifications].
The goods were to be delivered according to the following schedule:
[Description of schedule].
SECTION TWO:
DELEGATION OF PERFORMANCE
Assignor delegated to assignee on [date of delegation], the performance of the obligations of assignor under the sales agreement.
SECTION THREE:
ASSURANCE OF PERFORMANCE REQUIRED
Assignor must furnish assurance of performance on [date of performance], as demanded by buyer.
SECTION FOUR:
DEPOSIT IN ESCROW
Assignor shall deposit with escrow agent the amount of $ [Amount in escrow] Dollars on the following terms of escrow: [terms of escrow]
.
SECTION FIVE:
PURPOSE OF ESCROW
Assignors deposit shall be held by the escrow agent for the purpose set forth above.
In witness whereof, the parties have executed this agreement at [designated place of execution] the day and year first above written.
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