New York Escrow Agreement between The TriZetto Group, Inc., the Finserv Securityholders, Stuart Schloss and Bankers Trust Co.
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FAQ
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, data and other critical materials can be released to them.
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.
Software escrow can be a valuable tool for software licensing, but it also comes with some costs and fees that both parties should consider before signing an agreement.
At its most basic definition, a software escrow agreement is a contract between a software supplier and their client. It is made so that the client is guaranteed access to the software source code under some specific conditions, including bankruptcy or insolvency of the supplier and software maintenance issues.
At its most basic definition, a software escrow agreement is a contract between a software supplier and their client. It is made so that the client is guaranteed access to the software source code under some specific conditions, including bankruptcy or insolvency of the supplier and software maintenance issues.
Software Escrow Agreement Benefits A Software Escrow Agreement protects your investment by guaranteeing the long-term availability of third-party software and data while preserving the developer's Intellectual Property Rights (IPR).
Typically, the software developer will pay for the software escrow, although this point is often negotiable between the parties.
