August 13, 2010

Escrow Service- Brief Overview

An escrow account is

  • an account established by a broker, under the provisions of license law, for the purpose of holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction, or

  • a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.
Types of escrow
Escrow is best known in the United States in the context of real estate (specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and insurance during the term of the mortgage). Escrow companies are also commonly used in the transfer of high value personal and business property, like websites and businesses, and in the completion of person-to-person remote auctions (such as eBay). In the UK escrow accounts are often used during private property transactions to hold solicitors' client's money, such as the deposit, until such time as the transaction completes.

Escrow is also known in the judicial context. So-called escrow funds are commonly used to distribute money from a cash settlement in a class action or environmental enforcement action. This way the defendant is not responsible for distribution of judgment monies to the individual plaintiffs or the court-determined use (such as environmental remediation or mitigation). The defendant pays the total amount of the judgment (or settlement) to the court-administered or appointed escrow fund, and the fund distributes the money (often reimbursing its expenses from the judgment funds).

Escrow is also used in the field of automated banking and vending equipment. One example is automated teller machines (ATMs), and is the function which allows the machine to hold the money deposited by the customer separately, and in case he or she challenges the counting result, the money is returned. Another example is a vending machine, where the customer's money is held in a separate escrow area pending successful completion of the transaction. If a problem occurs and the customer presses the refund button, the coins are returned from escrow; if no problem occurs, they fall into the coin vault.

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Nofollow Tag - Hyperlinking Strategy to avoid spamming
Google SEO specialist, Matt Cutts
nofollow is an HTML attribute value used to instruct some search engines that a hyperlink should not influence the link target's ranking in the search engine's index. It is intended to reduce the effectiveness of certain types of search engine spam, thereby improving the quality of search engine results and preventing spamdexing from occurring.
Concept and specification

The concept for the specification of the attribute value nofollow was designed by Google’s head of webspam team Matt Cutts and Jason Shellen from Blogger.com in 2005.

The nofollow HTML attribute was originally designed to stop comment spam on blogs. Blog readers and bloggers were well aware of the immense problem. Just like any other type of spam affects its community, comment spam affected the entire blogging community, so in early 2005 Google’s Matt Cutts and Blogger’s Jason Shellen designed the attribute to address the problem and the nofollow attribute was born.



The specification for nofollow is copyrighted 2005-2007 by the authors and subject to a royalty free patent policy, e.g. per the W3C Patent Policy 20040205, and IETF RFC 3667 & RFC 3668. The authors intend to submit this specification to a standards body with a liberal copyright/licensing policy such as the GMPG, IETF, and/or

Introduction and support

Google announced in early 2005 that hyperlinks with rel="nofollow" attribute would not influence the link target's PageRank. In addition, the Yahoo and Bing search engines also respect this attribute.

How the attribute is being interpreted differs between the search engines. While some take it literally and do not follow the link to the page being linked to, others still "follow" the link to find new web pages for indexing. In the latter case rel="nofollow" actually tells a search engine "Don't score this link" rather than "Don't follow this link." This differs from the meaning of nofollow as used within a robots meta tag, which does tell a search engine: "Do not follow any of the hyperlinks in the body of this document.".
 

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Author & Editor

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