|What is Escrow?||Escrow is an arrangement in which an asset is deposited into safekeeping under the trust of a neutral third party (escrow agent) pending satisfaction of a contractual contingency or condition. Once the condition has been met, the escrow agent will deliver the asset to the party prescribed by the contract.|
|What kind of Assets are used for Escrow?||Cash, Real Property, Intellectual Property, Software, Source Code, Data, Design Drawings, Documentation, Domain Names, Acquisitions and General Handovers.|
|Why do I need Software Escrow?||Software
programs are vital to the optimal functioning of many organizations. These programs
are written by developers who take the written language (source code) of the
application and compile it into a working program. Being in possession of only
the working program without the source code means that:
You cannot fix, upgrade or change the current program
You can only use the original developers to effect any changes
You may not be able to provide interfaces to the current program
You are not free to shop for competitive servicing of your program
Your software asset is only as safe as your provider decides to make it
|Escrow Challenges||Software Escrow agreements are challenging in that they have to enable the client to continue its business functionality in a case of any unforeseen events but on the other hand they have to protect the developers from not exposing their intellectual property in a prejudicial way.|
|Elements of Software Escrow|| Basic Escrow:
The source code is handed over for Escrow for safekeeping in case of inability
or unavailability of the supplier to provide to support its program.
Validation Escrow: The same as the Basic Escrow only the source code is compiled and tested on our independent server to ensure all its components are present.
Basic Frequency: How often does the source code get handed over for Basic Escrow.
Validation Frequency: How often does the source code get handed over, compiled and validated.
|What software can be Escrowed?||Any software or technical designs can have Basic Escrow. All products supported by MS Visual Studio can have Validation Escrow.|
|Getting Started|| Step1: Purchase Escrow
Step2: Complete the Online Escrow Form
Step3: A preliminary agreement will be drafted for your review
Step4: You evaluate the draft agreement and send it back to us for finalization
Step5: The software supplier and developer sign the agreement
Step6: You purchase the relevant Escrow Package
Step7: The developer is given server access to transmit its source code
Step8: For Validation Packages the developer is required to compile its code on our servers while being monitored by our programmers.
Step9: You gain access to the compiled program on our servers and test it for functionality to ensure it behaves in accordance with your own expectations.
For Basic Escrow step 7 is repeated depending on the Basic Frequency.
For Validation Escrow step 8 & 9 is repeated depending on the Validation Frequency.
|What are the Costs?||See pricing for Escrow
Costs are also a factor of the size of the program which depend on the size of the compiled program or the size of the source files (whichever is greater). Another thing to consider is the frequency of updates.