The Agreement

The goal of an escrow-agreement is to protect the end-users long-term business continuity by taking the dna, the source code of the used application in our secure vaults.
The agreement is set up as a three party escrow-agreement, with the possibility to add important parties involved in an Annex. Headparties are supplier, end-user and Escrow Europe. Possible Annex-parties are: distibutors, hostingproviders or back-up agents.

A very important clause you can add to your SaaS escrow-agreement is the First Call Release. This works in the following way:

• The end-user suspects that the supplier will no longer able to meet your contractual obligations and informs Escrow Europe about this fact;
• Escrow Europe releases the object code and (if stored) the available data, so the end-user can anticipate on an upcoming liquidation;
• In case of a False Alarm, the end-users is responsible for the costs involved and the Release will be reversed and the agreement will be persued as normal;
• If the First Call was justified, we will follow according to the agreed upon escrow-agreement.