The Research On The Legal Mechanism Of Internet Escrow

Internet Escrow is a method of payment, it means any internet sale and purchase contract in which parties jointly select a qualified independent third party as a credit intermediary to fulfill their contractual obligations, buyer allocates contractual price to the account of a independent third party, after the seller fulfill its contractual obligations, the buyer will then instruct the independent third party to allocate contractual price to the seller, the most typical is the Alipay Escrow. The operation mode of the internet ESCROW and rights and obligations involved are special, currently we are lack of sound legal norms of internet ESCROW, it’s extremely unfavorable to legitimately standardize internet ESCROW agents’ operations, for the purpose of protecting the standardize operation of internet ESCROW agency and protecting the legitimate rights of the internet transaction participants, we must make more in-depth discussion about internet ESCROW, clarify the operation mechanism of the internet ESCROW, make sure its legal nature clear. The author holds the most respective one, the Alipay Escrow, as the object of this article, from the legal mechanisms of the Alipay Escrow, the article launches the elaboration. In addition to the introduction and summary, this article is divided into three parts and elaborates many legal issues, such as operational processes, legal relationship, legal nature and application of law of the Alipay Escrow, the details are as follows:The first part describes the operational processes and legal relations of the Alipay Escrow, clarifies the concept of it, demonstrates the panorama of the operation of the Alipay Escrow, and analyzes the legal relationship involved; On the basis of above, from both angle of macroscopic and microscopic, the second part analyzes the legal nature of the Alipay Escrow; In consideration of current situation that our country lack of relative legislative and theoretical research the third part looks for ways to application of law from the outside, introduces of US ESCROW institution and describes the typical legislation of it, in the hope that it can provides useful references to the application of law of the Alipay Escrow and other related institution.