Escrow Agreement {CR-18}

Form CR-18 - ESCROW AGREEMENT. This form is used by bail companies to establish a secured escrow account with a bank through certificates of deposit. It guarantees funds to cover liabilities such as bail forfeitures or judgments against the bail company. The form requires a deposit of $25,000 or $50,000 for counties with over 200,000 people for agreements after September 1, 2023. The bank holds the certificates as escrow agent, and funds can only be released with a court order. Interest earned on the certificates is paid to the bail company. The agreement can be canceled with 30 days' notice if there are no pending liabilities. The form must be approved by the presiding circuit judge. www.FormsWorkflow.com