Software Escrow Meaning & FAQ
Have Questions? We have answers.
What is Software Escrow?
A Software Escrow protects a software licensee by ensuring that the licensee will have access to the source code in the event that the licensor goes out of business, discontinues support of the licensed software, breaches maintenance obligation, or some other release condition occurs.
For more information take a look at Software Escrow Fundamentals.
How much does it cost to setup a Software Escrow and what are the setup fees?
EscrowTech is one of the few escrow companies that posts our Software Escrow fees online!
Do you charge extra for changes to the agreement?
We do not charge extra if you have questions about the language in the Agreement. While some customizations to the agreement may change the fees, we will not charge you for the time and effort associated with customizing the agreement.
Does EscrowTech verify the Escrow Materials?
EscrowTech conducts a Standard Verification on escrow materials free of charge. This consists of reviewing the escrow materials and performing the following: media read check, file Audit, password and encryption check and virus scan.
Does EscrowTech offer additional verification?
Yes. EscrowTech highly recommends performing a detailed Technical Verification in conjunction with all Software Escrows in order to ensure the usability of the Deposit Materials in Escrow. EscrowTech also offers lower levels of verification such as the File Listing Service, which provides a detailed list of files, a file classification table, cryptographic hash function(MD5 and SHA1), size and more to the Beneficiary each time a Deposit is made.
Please click the following link for a complete layout of EscrowTech’s Technical Verification Services.
How are the deposit materials stored?
Deposit Materials are stored on physical media in duplicate sets at EscrowTech’s two separate storage sites. One copy or set of the Deposit Materials is stored in a dedicated, secure and electronically monitored vault within EscrowTech’s headquarters in the Technology Law Center. A second copy or set of the Deposit Materials is stored in EscrowTech’s space within the Perpetual Storage Vault located deep within Utah’s Rocky Mountains.
For additional information regarding EscrowTech’s vaults, please visit our facilities page.
Do you provide a template agreement?
Yes, we provide the template Agreement for each Escrow type, as well as instructions, registrations forms, and sample language for release conditions. Give us a call or fill out or contact form and we can send you the template agreement.
What companies use EscrowTech?
EscrowTech has thousands of clients. We service a majority of the Fortune 500 companies as well as many other companies located in almost every country around the world. EscrowTech is experienced in working with Federal, State and local agencies, individual developers, small businesses, and venture capitalists.
For additional information regarding EscrowTech’s clientele, please visit our Why EscrowTech page.
What kind of payment do you accept?
EscrowTech accepts checks, ACH, and all major credit cards through our online payment. You will receive an invoice with instructions after the account is set up.
How can I make a deposit? Where do I send the materials?
EscrowTech provides two options for submitting the Escrow Materials. You may submit the materials on physical media (CD/DVD/Tape/Hard Drive) to our facilities or you may use EscrowTech’s online account-management-system, RealTime Escrow, to securely upload the Deposit Materials.
How do I know if my Escrow is being kept up to date?
Status Reports are sent out every 6 months from the start date of an Escrow. The Status Report includes a list of all of the Deposits made, Active Related Parties, the Current Balance and other important account information for your Escrow.