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Escrow agent is a facility or legal address that temporarily stores documents, money and other materials on behalf of the two parties that constitute the contract.
The escrow agent checks the documents transferred to him for compliance with the requirements of the share purchase agreement. If the documents meet these requirements, the escrow agent hands them over to the buyer and simultaneously transfers the transaction money to the seller. If the documents do not meet such requirements, escrow agent returns them to a seller, and money are going back to a buyer.
As soon as the terms of the contract are full scope fulfilled by each of the parties, escrow agent transfers the materials that are in his custody in accordance with the terms of the contract.
Those agents act as neutral third party that facilitate transactions between two parties, so in this case the parties do not even need to meet each other.