A SaaS escrow agreement exists to outline how the software data will be delivered from the software as a service, or SaaS provider. A SaaS Escrow Agreement is a simple tri-party arrangement with mutually agreed terms between the SaaS vendor, customer, and Escode.SaaS Escrow Agreement. A source code escrow agreement is a contract between a client and a software developer, ensuring client protection if software maintenance fails. A form of escrow agreement is a legal contract that guarantees a third party will hold the funds or property during an exchange.