How to set up a Software Escrow

Once you have selected EscrowTech as your Software Escrow agent, follow these steps:

1. Request the appropriate Agreement and forms from an EscrowTech representative by calling 801-852-8202 or email us at mail@escrowtech.com.

The following processes can be expedited by sending PDF copies via email or fax.

A. Single Beneficiary Software Escrow Agreement

a. Once you have reviewed and filled out the Agreement, print off at least one copy, sign it, and fax/email PDF a copy to the other party. Ideally, three original copies should be mailed through the loop for signatures so that all three parties can have an original.

b. The other party will then sign the originals and mail them to EscrowTech at the following address:

EscrowTech International, New Accounts, 333 S 520 W, Suite 230, Lindon, UT 84042

c. Once EscrowTech receives a copy signed by both parties, an account manager will process the Agreement immediately and set up the Software Escrow to receive a Deposit. At that point, you will receive instructions and froms to make a Deposit.

B. Multiple Beneficiary Software Escrow Agreement

a. Review the Agreement and fill out the front page and Exhibit A. Also, verify that Exhibit B regarding Release Conditions is acceptable to both parties. Once you have reviewed and filled out the Agreement, print off at least one copy, sign it, and fax/email PDF a copy to EscrowTech to be fully executed and set up. Ideally, two original copies should be mailed to EscrowTech so that both parties can have an original.

b. An EscrowTech account manager will process the Agreement and contact you same day.

c. The next step is to fill out the Beneficiary Registration form. Input the Escrow No. given to you, your company information and contact person, reference your license with the client, input the product name next to its number (in a separated products Agreement), and choose the release conditions that you want to use from the sample language at the end of the form. You may need to have them approve the form before signing, but once you sign it go ahead and have your client sign it and send to EscrowTech. The other party should receive a copy of the master Agreement for their reference.

d. Once EscrowTech receives a copy signed by both parties, and account manager will process the Agreement immediately and set up the Software Escrow to receive a Deposit. At that point, you will receive instructions and forms to make a Deposit.