This practice note addresses key issues in drafting and negotiating a software source code escrow agreement involving an independent thirdparty escrow agent. A software escrow agreement is a legal arrangement where the source code of a software application is securely deposited with a neutral third party.Bank shall hold all such deposits in a single escrow account (the "Escrow Account") which shall only be released or refunded as follows: Protect business critical software with Escode's Software Escrow Agreements, ensuring business continuity, compliance, and secure intellectual property. A source code escrow agreement is a contract between a client and a software developer, ensuring client protection if software maintenance fails. Escrow Agreement filled out in its entirety (No copies, white-out or faxed copies all original signatures). A SaaS escrow agreement exists to outline how the software data will be delivered from the software as a service, or SaaS provider. The objective of source code escrow is to ensure continued availability of software support and maintenance. THIS AGREEMENT, made and entered into this ______ day of. "Agreement" means the terms and conditions of this single licensee software escrow agreement set out below, including the Schedule(s) hereto.
