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An escort service is a paid service that offers a companion. An escort is primarily an escort, for social events, cultural entertainment or corporate events.
You do not pay an escort for sex, but for the time they spend with you, which should provide you with intellectual stimulation. What happens during this time depends on the situation, it is usually agreed in advance.
Escorts are more refined, cleaner, more educated, friendlier than prostitutes, but therefore also more expensive.