Software Escrow’s single licensee agreements are most appropriate for software applications that are used by single organization only and have been bespoke built for that organization. The single licensee agreement is put in place between the licensee, the software supplier and Software Escrow, as an independent escrow provider. Under this type of agreement the software supplier has the responsibility for depositing the source code into escrow.

If the software supplier became unable to provide support or maintenance on a long-term basis, Software Escrow would release the source code to the licensee. They could then decide to take over the ongoing maintenance of the software in-house or engage with another software supplier to do so on their behalf.

This type of agreement is especially beneficial for Software Purchaser, he is the only inheritor of the escrow deposit. Such arrangement are interesting for special customized applications or situation where infrequently ask for Software Escrow

All issues which are agreed and discussed are included in a transparent escrow contract. As this agreement is exclusive for single licensee it includes all clauses which are wished and agreed by both sides licensee and licensor. The role of Software Escrow in this is to advise and check the practical implementation and legal position of all parties.

Solution we offer:

Single Beneficiary Software Escrow

SB

This is a three party agreement that allows for one Owner and one Beneficiary.

Description

The Single Beneficiary Software Escrow Agreement is a three party agreement between the Owner (licensor), Beneficiary (licensee), and Software Escrow. This type of agreement should be used when there is exactly one Owner and one Beneficiary.

How the Single Beneficiary Escrow Works?

A Single Beneficiary Software Escrow begins with all three parties signing the Software Escrow Agreement. This agreement specifies certain conditions such as:

  • The Deposit Materials (the actual code/documents/etc that will be held in escrow).
  • The Release Conditions (what must occur for the Deposit Materials to be released to the Beneficiary).
  • The Permitted Use (what the Beneficiary can do with the Deposit Materials).

Once the Software Escrow Agreement is established, the Owner then submits the Deposit Materials to Software Escrow. If a Release Condition occurs, then Software Escrow releases the Deposit Materials to the Beneficiary.