Word: escrowed
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...other world political and financial capitals, related negotiations had been under way for weeks. Sunday, on my last visit to Camp David, I had signed the 15 documents necessary to initiate the financial transactions. Under the agreement worked out through the Algerians, enough Iranian funds would be held in escrow to pay any legitimate American claims. The Bank of England had been chosen to hold the escrow account in the name of the Algerian central bank. The balance would be returned to Iran. The Iranian gold we had seized had been transferred to the Bank of England on Friday...
...from Miller: "The message is continuing but garbled. If the test number at the end is accurate, we will buy it." 2:45 a.m., from Christopher: "I am ready to go to Benyahia, but a serious difference has now developed among Americans concerning the escrow language-between Treasury and the Federal Reserve." (This involved the Iranian money to be held to settle legal claims.) The Fed lawyers state that they cannot sign the necessary documents. (Treasury officials reported to me that the agreement was adequate. Representatives of the Fed, an independent establishment, were not convinced...
...from Miller: "The money [from the private banks] is in. Will now transfer to the Fed account in London. We're checking on whether the Algerians and the Bank of England are signing the escrow agreement...
...HMOs, compensation to doctors for their services comes directly from the administrative office instead of the patient. Some HMOs automatically withhold a portion of medical fees and keep the funds in escrow until year's end. Then, if there is a surplus, participating physicians may get raises or bonuses. Doctors are subject to continuing scrutiny by their fellow physicians to ensure that they avoid expensive diagnostic tests that are not required. This encourages them to prescribe only what is necessary, thereby helping to hold down costs for everyone...
...legal aid to the poor are in need of aid themselves at the moment. Congress cut federal funding by 25% last year. But now Florida and California have come up with a shiny new money source: the funds that are routinely paid in advance by clients and held in escrow bank accounts by their lawyers. When the amounts are small or in the bank for only a short time, they accumulate little or no interest. But pooled, the funds could generate millions in interest. To tap that potential pool, Florida has adopted a voluntary plan that allows any lawyer, without...