Prospects for phased disclosure of escrow accounts in Russian housing development

The article is devoted to the current model of financing in housing development. The article is concerned with the use of escrow accounts in domestic practice, the participants of trilateral agreement and algorithm of escrow accounts work. The article discusses the Russian and foreign experience in the use of escrow accounts. The authors propose aggregative building stages for progress payment by the bank, identify and analyze the prospective advantages and risks of introducing a phased disclosure of escrow accounts for the main participants in the investment and construction sector: the developer, buyer and bank. The authors suppose the main terms of the new model will be diligent developers and bank sectors for construction control.