The use of the escrow materials is subject to a condition precedent and is only released as stipulated in the contract.
Under the given conditions, it is necessary for the licensee to be granted the right to access the construction source data as well as the technical development documentation in order to ensure continuity.
If a manufacturer or supplier no longer exists, you might not be able to be keep the product running. Using escrow services reduces this risk.
The detailed description of the release conditions is of utmost importance. Individual conditions between the manufacturer and the licensee can be included in the contract, or the standard conditions recommended by HanseEscrow can be used.
The existing risks are identified and evaluated together with the customer. We develop a strategy for the negotiations and the contract preparations and then follow through with it.
Our services for contract and risk consultation are optional. You choose based on your requirements. Whether you choose one or all of our services, you will get valuable support in preparing your escrow contract.
Escrow protects investments in cases where the buyer does not receive all of the information required for the maintenance of the purchased product. If the product is not strictly software, for example a machine, a factory, an industrial unit, a ship or real estate, the material to be deposited usually consists of construction documents, maintenance plans, procurement lists, software source codes, firmware source codes, designs and further documents. The various components have to be checked individually and the updates usually have to be run at different times.
In addition to a standard source code escrow agreement, HanseEscrow offers agreements that fit such multi-facetted escrow situations.
If you need a sample agreement, please send us an email with the subject “sample agreement” together with notes stating which product is to be deposited and the language (German or English) you would like the agreement to be written in.
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