Colorado Vendor Oriented Source Code Escrow Agreement
Description
How to fill out Vendor Oriented Source Code Escrow Agreement?
You can invest time online searching for the valid document format that meets the federal and state criteria you need.
US Legal Forms offers thousands of valid templates that are reviewed by experts.
It is easy to obtain or create the Colorado Vendor Oriented Source Code Escrow Agreement from this service.
If available, utilize the Review button to view the format as well.
- If you have a US Legal Forms account, you can Log In and click the Download button.
- After that, you can complete, modify, print, or sign the Colorado Vendor Oriented Source Code Escrow Agreement.
- Every valid document you acquire is your property permanently.
- To obtain an additional copy of any purchased document, visit the My documents tab and click the corresponding button.
- If you are using the US Legal Forms website for the first time, follow the simple instructions below.
- First, ensure you have selected the correct format for the state/area of your choice.
- Review the document description to ensure you have chosen the right template.
Form popularity
FAQ
Source code escrow is a specialized software protection solution designed to store the source code of a critical software application, ensuring access in case the software's maintenance cannot otherwise be assured, as defined in agreed-upon conditions.
An escrow agreement is a contract that outlines the terms and conditions between parties involved, and the responsibility of each. Escrow agreements generally involve an independent third party, called an escrow agent, who holds an asset of value until the specified conditions of the contract are met.
A software escrow agreement is an agreement consisting of three parties namely, the software developer, the buyer, and the end-user who is also known as the beneficiary and the escrow agent. The escrow agent is the neutral party in this agreement.
The objective of a software escrow agreement is to provide comfort to the end user that if the software developer is unable or unwilling to support the software, the code can be released to them. The agreement outlines the responsibilities of all the parties and includes the pre-defined release conditions.
Depending on the situation, the software escrow fees may be borne solely by the developer, the beneficiary, or even split equally between both parties. During the negotiation of the software license agreement, a clause for the inclusion of a software escrow agreement is often included.
Although there are several points of negotiation in these SaaS escrow provisions, providers are more and more frequently accepting the reality of SaaS escrow, including them in their form subscription agreements to appeal to prospective customers wary of business continuity risks.
A source code escrow agreement typically instructs the agent to release the source code to the licensee if and when a specified event occurs, such as the licensor becoming insolvent or defaulting on its maintenance obligations under the principal license agreement.