How does the ESCROW vault service work?
The purpose of escrow software is to minimize the risks associated with the development and maintenance of information systems. The essence of the service consists in the safe custody of the application source code with an independent party – an escrow agent, based on a conditional agreement between the user, the software producer and the escrow agent. If the agreed conditions are fulfilled (e.g. termination of the supplier, breach of SLA), the contract entitles the escrow agent to release the source codes to the user in order to continue maintenance and development of the software with another partner.
1. The seller agrees with his client
2. Together we will conclude the ESCROW contract
3. The seller archives the work in UP>SAFE
4. UP>SAFE the safe is locked
5. We make the data available to the client according to the terms of the contract
Save with us your data and choose under what conditions and to whom we release them. storing your data – we can create a digital audit trail of your data, capture its existence and content over time, authenticate and authorize its owner. For developers, we can store data in GIT-supported formats, mirrors of the entire development environment, documentation, database data models, deployment scripts, etc. – contact us and we will come up with the optimal solution for storing your products.
Save any digital materials with us. In addition to the traditional source code storage, our storage facilities are perfectly suited for the storage of e.g. technical documentation for various construction and engineering projects, which carry certain intellectual property and are not handed over to the customer. Similarly, it can be a variety of production plans, design documents, technical documentation, which after some time make it much easier to modify the final product.
Store data files with us that contain works of authorship – music, marketing images and videos, original texts, scientific papers and more.
Save to us data attachments of contracts , the current version of your published terms and conditions of sale or purchase, scientific and grant work.
In addition, we provide you with professional services, digital content auditing and source code validity.
The purpose of escrow software is to minimize the risks associated with the development and maintenance of information systems. The essence of the service consists in the safe custody of the application source code with an independent party – an escrow agent, based on a conditional three-party agreement between the user, the software producer and the escrow agent. If the agreed conditions are fulfilled (termination of the supplier, breach of SLA), the contract entitles the escrow agent to release the source codes to the user in order to continue maintenance and development of the software with another partner.
Customers commonly approach software producers with a request to release source codes to ensure continuity of operation and future development of the information system. An acceptable solution to the situation is the notarial custody offered by law firms. However, these services are often expensive, risky in terms of handling source codes and very inflexible due to the need for regular physical handling of media (CD, flash memory). They are not always able to fulfil their purpose at all due to the limited reliability and lifespan of the stored media. Obviously, in situations like this, the contract is often rejected either by the supplier (fear of disclosure of know-how) or by the customer (more storage costs).
The basis of our offer is a bilateral software escrow agreement between the software producer and Packagestream s.r.o. established for the benefit of the user, usually required by the software user. The release of the source code will occur when the conditions set out in the contract are met (e.g. bankruptcy or termination od the the producer, failure to meet SLA, etc.).
The uniqueness of our solution lies in the fully electronic escrow process, simple escrow administration and a clear list and work with beneficiaries. Of course, we use the highest security standards of encryption, data archiving and authentication of data assets in accordance with current legislation.