Escrow accounts

If a customer wants to pay application fees using an escrow account, you can use Infor Public Sector to establish one or more accounts for that customer from which those fees can be paid.

For example, contractors may have many applications open at any one time, and fees will become payable for these applications at different times. Escrow accounts provide a way for them to pay fees without having to wait for the processing and approval necessary with other payment methods.

After an account is created, you can make an initial deposit into it or load it into the Escrow InfoViewer, where you can perform adjustments, withdrawals, additional deposits, and other actions on it. When an account has sufficient funds, the account holder can use it to pay application fees.