PRACTICAL APPLICATION AND CHALLENGES OF THE ESCROW SYSTEM IN CIVIL LEGISLATION

Abstract:

This article examines theoretical and practical problems associated with the application of the escrow system in civil legislation. While the escrow institution is widely used in international commercial practice, its successful implementation in national legal systems presents a number of difficulties. Within the framework of the research, the experience of legal regulation of the escrow system in various countries was analyzed, as well as the possibilities and obstacles to applying this institution in the civil legislation of Uzbekistan. The article analyzes the legal construction of the escrow mechanism, its impact on contractual and property relations, as well as features of application in dispute situations. The research results show that effective application of the escrow system requires creating a separate legislative base, regulating the activities of escrow agents, and improving dispute resolution mechanisms. The conclusion provides practical recommendations for implementing the escrow institution adapted to the civil legislation of Uzbekistan.