This form is a Source Code Escrow Agreement. The form provides that as compensation for the services to be performed by the escrow agent, the licensee will pay the escrow agent a certain fee which is due at the time of execution of the agreement. The document also provides that neither the escrow agreement, nor any rights, liabilities or obligations may be assigned by the escrow agent without the prior written consent of the licensee and the licensor.
You can start by talking to a qualified escrow provider. They’ll guide you through the process, making it as smooth as butter for you.
Absolutely! There are standard, exclusive, and custom agreements, depending on your specific needs. Think of it like choosing the right tool for the job.
If that happens, the escrow agreement kicks in, and you can access the source code, ensuring you don't get left in the lurch.
Yes, reputable escrow agents are neutral third parties with a solid track record. It's like handing your prized possession to a trustworthy friend while you're away.
The process is straightforward. The developer deposits the source code with an escrow agent, and there's an agreement that outlines when and how you can access it.
You'd want this agreement to protect your investment in software. If the vendor can no longer provide support, you'll have access to the source code to maintain or modify the software yourself.
A Source Code Escrow Agreement is a legal arrangement where software source code is held by a third party, ensuring that it can be accessed under certain conditions, like if the original developer goes out of business.