Software Escrow Services
SENZ is an expert in all matters to do with escrowing software. Being dedicated to software escrow means an unparalleled focus on this area.
We Offer The Complete Package
SENZ offers all manner of software escrowing arrangements including:
- Two-party arrangements (with an owner and one licensee)
- Multi-party arrangements (multiple licensees)
- Standard contract or customisations (fee applies for contract customisations)
- Most other escrow arrangements
How it works
The escrow process is simple:
- A software vendor and customer agree that the they should engage an independent and trusted third party (an “escrow agent”) to hold a copy of the source code related to their software. SENZ keeps the code secure and only releases it in circumstances agreed by all the parties (such as insolvency).
- The software vendor deposits the escrow material (source code with all libraries and documentation required to generate the system) with SENZ, and supplies any future updates when these occur.
- SENZ stores the material in a highly secure controlled access vault in Wellington.
- In the event that the vendor is no longer able to support the software, and following a strict process and protocol agreed by all parties in advance, SENZ will release the escrow material to the customer.
- The customer receiving any material under this agreement may use the material for the purposes of maintaining the software which it is licensed to use, but does not gain ownership; the licensee may not sell or distribute the software to any other party.
Cost of Software Escrow
The cost model for Software Escrow is simple. The base Escrow costs are as follows:
- One-off Setup Fee: $195 + GST
- Annual Escrow Fee: $1800 + GST p.a.
The following additional fees may apply:
- Modifications to standard Escrow Agreement - from $195+GST
- Release fee $250 + GST per licensee
- Additional licensees after the first for any deposit* - varies
- Cost per update to material after the first four in any calendar year $75 + GST
- Contested Release: recovery of any legal costs
Want to know more? Contact SENZ.
* There are standard agreements to cover both the situation where there is a single licensee and the situation where there are multiple licensees for the same deposit. Where there are multiple licensees the deposit must be such that in the event of the software being released each licensee will get an exact copy of the deposit.