This practice note addresses key issues in drafting and negotiating a software source code escrow agreement involving an independent thirdparty escrow agent. A source code escrow agreement is an agreement to deposit the source code of the software with a third party escrow agent.In this article, we will provide a stepbystep guide to help you prepare your source code for software escrow. On. , 20____, the parties entered into a settlement agreement that states that the parties agree that the amounts paid into the escrow account should be. When should I require an Escrow Agreement for my contract? There is a potential need to obtain source code for a software, application or complex solution. Communities Program contract. Find useful forms for property assessments, real estate property and deeds, Military Discharge (DD214) requests, and more. When should I require an Escrow Agreement for my contract? There is a potential need to obtain source code for a software, application or complex solution.