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The source code is the core programming owned by the vendors or creators of the product. This contains industry secrets that are not normally released to licensees, in case they are copied and sold on. So you can see how the agreement protects both licensor and end-user.

The software escrow agreement is a legally binding agreement between the creator/owner of the software, the licensee/user and the trustee/escrow agent.

This can vary greatly from one contract to another, depending on the software involved, as well as the needs and concerns of each of the parties covered in the agreement. The escrow agent should be able to advise on the best agreement for your needs.

In a standard escrow agreement, the licensor will pay a set-up fee for the agreement, while the licensee will be responsible for the annual fee for maintaining the contract. The licensee also accepts responsibility for a small release fee when the contract is terminated. In the event of a SaaS escrow agreement, the licensor is responsible for both the set-up fee and an annual fee. The licensee also pays an annual fee, as well as the release fee in the event of termination of the contract.

Access Assure gives you access to all cloud-based software and data under the SaaS escrow agreement prior to the licensor or hosting company going out of business.