What is a Software Escrow Agreement

Discover how these legally binding contracts protect your business continuity. We cover key parties involved, material details, and release conditions. Codekeeper simplifies the process, ensuring secure escrow management without costly legal fees. Download a free escrow agreement template or explore our expert insights.


Hi, I'm Jonathan from Codekeeper.


In today's video, we are going to answer the question: What is a software escrow agreement?


When you decide to make the investment to protect your business continuity by way of software escrow, the first step is to draw up an escrow agreement.


A software escrow agreement is a legally binding contract usually entered into by the depositor (also known as the software licensor) and the beneficiary (also known as the software end user).


It holds important information about the different parties involved in the agreement, details about the material to be put into escrow, and specifications relating to the release conditions.


A release event is any event that causes you to lose access to the software that is critical for your business continuity. This can include anything from bankruptcy, system failure, to a natural disaster.


When a release event is triggered, the material that is held in escrow is released to the beneficiary. This adds an extra layer of security that helps ensure your business can keep running in the event of an unforeseen circumstance.


At Codekeeper, we take care of the legal aspects of the agreement, and ensure the materials deposited into escrow are kept safe and secure, which means you don't need to pay for additional expensive lawyers fees. Our data centers ensure the highest level of security.


Visit our website to download a free software escrow agreement template, or our e-book that provides expert insights into what to look out for when entering into a software escrow agreement.


Thanks for watching.

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