Canadian software developers, prepare a 3-Party Software Escrow Agreement
with this easy-to-use template.
- This Agreement is between three parties - a developer, a licensee and a party being appointed as escrow agent, to hold the source code in escrow for the duration of a license agreement between the developer and the licensee.
- The Agreement allows the licensee conditional access to the source code as part of its business, and allows the developer access to continue its ongoing support.
- The developer will update the materials in escrow after each upgrade or new release of the software.
- The escrow agent has the right to terminate the agreement and destroy the escrow materials if its fees are not paid within 30 days of coming due.
- The developer and the licensee jointly indemnify the escrow agent against claims or damages arising from the agreement.
- The licensee can request that the source code be released if the developer is in breach of its obligations under the license agreement.
This Canada 3-Party Software Escrow Agreement
template is available in MS Word format, and is fully editable to fit your specific circumstances.