Abstract
The global e-commerce market continues growing year by year. Alongside, low confidence of consumers in sellers on the Internet and electronic platforms remains one of the key issues predetermining relevance of the researches focused on looking for the tools to solve the issue of confidence between the e-commerce participants. Internet escrow is among those tools. In contemporary literature, the focus is mainly on the economic assessment of its use, while the efficiency of using the Internet escrow depends largely on the legal regulation in the relevant legal system. The research deals with the models of the Internet escrow’s legal regulation in the USA, where it has been settled long enough, and in the Russian Federation, where the legal and regulatory base in the relevant area is only at the initial stage of development. The aforesaid analysis renders it possible for us to identify the major “strong” properties of escrow, providing for efficiency of its use in e-commerce. The characteristics of various legal escrow models as presented in the research can be used as a criterion for choosing the escrow agent from among both the Russian and international companies offering the relevant services.
Keywords
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
2018 Digital Yearbook. https://wearesocial.com/blog/2018/01/global-digital-report-2018
Antony S, Lin Z, Xu B (2006) Determinants of escrow service adoption in consumer-to-consumer online auction market: an experimental study. Decis Support Syst 42(3):1889–1900. https://doi.org/10.1016/j.dss.2006.04.012
Bashkatov ML (2013) Legal structure of escrow transactions: problem statement. M-Logos. https://goo.gl/4gJBDU
Bhagat S, Klasa S, Litov LP (2016) The use of escrow contracts in acquisition agreements. http://dx.doi.org/10.2139/ssrn.2271394
California Escrow Law Protects Online Consumers (2000) News Release 09-13-2000. http://www.dbo.ca.gov/Licensees/Escrow_Law/nr0013.asp
Delina R, Drab R (2009) Trust building on electronic marketplaces in the field of escrow services and online dispute resolution. In: Idimt-2009: system and humans, a complex relationship, vol 29, pp 149–156
Hu X, Lin Z, Whinston AB, Zhang H (2004) Hope or hype: on the viability of escrow services as trusted third parties in online auction environments. Inf Syst Res INFORMS. https://doi.org/10.1287/isre.1040.0027 (Inst Oper Res Manag Sci)
Huber W (2005) Escrow 1: an introduction. Educational Textbook Company, 530 p
Nian LC (2006) The viability of Online Escrow Services (OES) in online exchanges. In: Duserick FG (ed) Fifth wuhan international conference on e-business. Integration and innovation through measurement and management, vol 1–3. ALFRED UNIV, pp 439–445
Medentseva EV, Tokmakov MA (2017) Escrow: international experience and perspectives of application in Russia. J Adv Res Law Econ 3(25):906–909. https://doi.org/10.14505/jarle.v8.3(25).26 (vol VIII, Summer)
PayPal v. Escrow Services: Efficiency and Safety by the Numbers (2018) Byte technology. https://byte-technology.com/blog/paypal-v-escrow-services-efficiency-and-safety-by-thenumbers/. Accessed 1 Apr 2018
Rybakova O (2018) Methodological materials for online stores on interaction with citizens. http://files.runet-id.com/2018/rif/presentations/19apr.rif18-zal-2.15-30–ribakova.pdf
Shim S, Lee B (2010) An economic model of optimal fraud control and the aftermarket for security services in online marketplaces. Electron Commer Res Appl 9(5):435–445. https://doi.org/10.1016/j.elerap.2009.08.003
Tokmakov MA (2017) Peculiarities of the escrow agent’s legal status under common law of the USA. Issues of economic and law, № 3, pp 19–22
Vasilevskaya LY (2016) Escrow account agreement: legal qualification issues. Electronic Supplement to the “Russian juridical journal”. https://goo.gl/RxAbKQ. Accessed 1 Apr 2018
Virin F (2018) Online trading in Russia 2018. http://datainsight.ru/sites/default/files/DI-RIF2018.pdf
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this paper
Cite this paper
Tokmakov, M.A. (2020). Model of the Internet Escrow’s Legal Regulation as a Factor of Efficiency of Its Use in E-Commerce. In: Ashmarina, S., Mesquita, A., Vochozka, M. (eds) Digital Transformation of the Economy: Challenges, Trends and New Opportunities. Advances in Intelligent Systems and Computing, vol 908. Springer, Cham. https://doi.org/10.1007/978-3-030-11367-4_36
Download citation
DOI: https://doi.org/10.1007/978-3-030-11367-4_36
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-11366-7
Online ISBN: 978-3-030-11367-4
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)