About 867 billion baht in escrow transactions have been recorded in the last 15 years, according to data released by the Fiscal Policy Office. The Escrow Account Act, implemented in 2008, aimed to prevent fraud and deception in business transactions. Capital market transactions accounted for the majority of the total escrow service transactions at 862 billion baht, while product and service purchase transactions made up only 3.3 billion baht. Surprisingly, real estate transactions, a key target of the legislation, comprised only 852 million baht. The law stipulates the appointment of a neutral third party, known as an escrow agent, to safeguard the interests of all parties involved in a contract.
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