Software source code.
EscrowNZ protects your software assets by securely storing source code and data for if things go wrong.
Security = peace of mind.
How does it work?
The escrow process is simple:
When one company (the ‘owner’) provides software to another company (the ‘licensee’), they can engage EscrowNZ as a trusted, independent third party to hold a physical copy of the software source code.
EscrowNZ keeps the source code secure and only releases it under specific circumstances (or ‘release triggers’) agreed by all parties in advance.
If something goes wrong - such as the owner goes out of business - the source code is released to the licensee to ensure they can continue to maintain it and the risk to their business is reduced.
Pricing
The base cost model for standard escrow services is simple.
One-off Setup fee: $195 + GST
Annual Escrow fee: $1995 + GST
Additional licensees to a multiparty agreement: $100 + GST after the first 3
Other Costs.
The following additional fees may apply:
Modifications to standard Escrow Agreement: from $195 + GST
Release fee $250 + GST per licensee
Inspection fee $250 + GST per instance
Cost per update to material after the first four in any calendar year $75 + GST
Contested Release: recovery of any legal costs
FAQs.
Who is this service for?
EscrowNZ provides simple escrow solutions for your source code, data or documentation. Our service is designed to maintain the integrity and security of any business or project, while protecting all parties involved.
How do I deliver my material for escrow?
A copy of your source code, data or documentation must be saved onto physical media. Coded shipping labels can then be printed from the EscrowNZ client portal and attached to the courier pack, ensuring the anonymity of your material. You can also drop material directly in to our Head Office.
What is a trigger event?
A trigger event is a particular situation that, should it occur, prompts the release of the material in accordance with the terms set out in the contract. The events (such as liquidation, cessation of the business etc) are agreed up front and detailed in the contract, ensuring that all parties have transparency and trust in the process.
How do I access my material if needed?
If a trigger event occurs and the material in question is set to be released, EscrowNZ will liaise with the relevant party to get the material to them – via courier or pick-up.
If any party would like to inspect the material, we will organise a time for all parties in the agreement to meet and review it (with oversight from EscrowNZ), to ensure the material is protected and securely deposited back into our vault.
“We have partnered with EscrowNZ for 13 years.
The team have provided professional, effective services with regular deposits and safe keeping of our customers’ software assets.”
—Head of Sales, Global Financial Software Solutions Company.