What is escrow?
The literal translation of the Anglo-Saxon word escrow stands to indicate a deposit and a written agreement between two parties under which documents, sums of money or securities related to in the agreement, are deposited with a third party (trustee) as collateral, and subsequently issued under certain conditions expressly laid down by the parties themselves.
How does escrow work?
Escrow is a contract under which one or more entities (depositors) deposit in their own interest and in the interest of the beneficiary a document or, in general, a business property of essential economic importance with a third party independent depositary, which undertakes to return it to the beneficiary or by consensus with both parties, upon the occurrence of certain contractually established conditions.
Establishing a relationship of trust with customers is the primary objective of eWitness. In order to do this, we believe it is important to be able to present sound solutions to our customers’ needs that are both reliable and confidential. In the specific case of escrow services, eWitness can provide the necessary technological support to the trustee in order to implement:
Key escrow for graphometric signature: i.e. generating pairs of keys (public and private) that can be used for graphometric signature processes and subsequent trust storage, for the secure and inaccessible retention of private keys;
Source code escrow: creating a protected ‘white room’ environment that allows the trust deposit and subsequent preservation of the source code transmitted by a depositor, at the hands of the trustee (third party free and independent entity) in a digital ‘safe’, for the benefit of a beneficiary.
What is escrow?