Software escrow is a contract between a technology supplier and their client, which allows the latter to ensure the continuity of their business activity by securing access to the supplier’s software source code and other relevant documentation, in the event of supplier failure.
The contract will often include an independent third party, like Vaultinum, as the escrow agent and can be applied to SaaS, Cloud based or on-premise software.
In one simple word? Protection
Bankruptcy, insolvency, change of ownership, maintenance or support issues and discontinuation of a specific software are all common circumstances that lead to supplier failure.
For Software Clients
With a software escrow in place, such events, known as ‘release conditions’, are agreed to in advance and formalized.If a release condition occurs, the client is granted access to the deposited source code, allowing them to continue using the software and ensuring business continuity.
For Software Suppliers
Having a software escrow agreement brings a serious competitive advantage for suppliers as this offers clients and prospects reassurance in the event of supplier failure.
Enforcement of a Strict Access Procedure
If any of the release conditions agreed in the software escrow occurs, Vaultinum will implement a strict and transparent verification procedure, before allowing the beneficiary to access the escrowed elements.
Your Data is Safe with Us
Your data is encrypted and stored on our own servers, using the AES 256 encryption algorithm.
Update your escrow straight from your Git repository, automatically and periodically.