tiktok³ÉÈË°æ

All Countries
Escrow Agreement It Software

Escrow Agreement It Software Template for Australia

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Escrow Agreement It Software

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Escrow Agreement It Software

"I need an IT Software Escrow Agreement to protect our banking software source code, with quarterly verification testing requirements and specific release triggers for the escrow agent in case our software vendor becomes insolvent or ceases operations."

Celebrated by
Collaborations with
Investors
Document background
The IT Software Escrow Agreement is essential in modern business transactions where organizations rely on critical software for their operations. This agreement, governed by Australian law, provides a risk management mechanism by ensuring access to source code and related materials if specific trigger events occur, such as the software provider's insolvency or breach of maintenance obligations. It balances the software provider's need to protect intellectual property with the beneficiary's requirement for business continuity. The agreement typically includes detailed provisions for material deposits, verification procedures, release conditions, and confidentiality obligations, all structured to comply with Australian legal requirements including the Electronic Transactions Act 1999 (Cth) and Copyright Act 1968 (Cth).
Suggested Sections

1. Parties: Identifies the escrow agent, depositor (software owner), and beneficiary (licensee)

2. Background: Sets out the context of the software license arrangement and need for escrow

3. Definitions and Interpretation: Defines key terms including Deposit Materials, Release Events, Verification Tests

4. Appointment of Escrow Agent: Establishes the appointment and authority of the escrow agent

5. Deposit Obligations: Details the materials to be deposited and timing/process for deposits

6. Verification and Testing: Procedures for verifying completeness and usability of deposited materials

7. Release Events and Procedures: Defines trigger events and process for releasing materials

8. Confidentiality: Obligations regarding confidential information protection

9. Intellectual Property Rights: Confirms ownership and licensed rights in deposit materials

10. Fees and Expenses: Details of escrow agent fees and payment responsibilities

11. Term and Termination: Duration of agreement and termination provisions

12. Liability and Indemnities: Limits on liability and indemnification obligations

13. General Provisions: Standard boilerplate including notices, governing law, etc.

Optional Sections

1. Multiple Beneficiary Provisions: Required when multiple licensees are beneficiaries under the escrow

2. International Provisions: Needed for cross-border arrangements including currency provisions

3. Step-in Rights: Optional provisions for temporary access to maintain software

4. Source Code Compilation Instructions: Detailed technical requirements for complex software

5. Dispute Resolution: Alternative dispute resolution procedures if preferred to litigation

6. Insurance Requirements: Specific insurance obligations beyond standard coverage

7. Data Protection: Additional provisions if personal data is involved in the deposit

8. Security Measures: Special security requirements for highly sensitive materials

Suggested Schedules

1. Schedule 1 - Deposit Materials: Detailed list of all materials to be deposited including source code, documentation, tools

2. Schedule 2 - Verification Test Procedures: Step-by-step procedures for testing deposited materials

3. Schedule 3 - Release Event Notice Form: Template form for notifying release events

4. Schedule 4 - Fee Schedule: Detailed breakdown of all fees and payment terms

5. Schedule 5 - Technical Requirements: Technical specifications for deposit format and media

6. Schedule 6 - Contact Details: Key contacts for all parties and escalation procedures

7. Appendix A - Initial Deposit Inventory: Initial listing of all materials deposited at commencement

8. Appendix B - Update Procedures: Procedures for depositing updates and new versions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





































Clauses






























Relevant Industries

Information Technology

Banking and Financial Services

Healthcare

Government and Public Sector

Telecommunications

Manufacturing

Retail

Professional Services

Energy and Utilities

Insurance

Relevant Teams

Legal

Information Technology

Procurement

Risk Management

Compliance

Information Security

Vendor Management

Software Development

Operations

Business Continuity

Relevant Roles

Chief Technology Officer

Chief Information Officer

IT Director

Software Development Manager

Legal Counsel

Procurement Manager

Risk Manager

Compliance Officer

Contract Manager

Information Security Manager

Technology Operations Manager

Software Architect

Business Continuity Manager

Vendor Management Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Cloud Escrow Agreement

An Australian-law governed agreement establishing escrow arrangements for cloud service components, ensuring business continuity through secured access to critical materials.

find out more

Technology Escrow Agreement

An Australian-law governed agreement for the secure third-party holding of critical technology assets, ensuring business continuity while protecting intellectual property rights.

find out more

Voluntary Escrow Agreement

An Australian law-governed agreement establishing terms for voluntary escrow arrangements, including deposit, management, and release conditions.

find out more

Data Escrow Agreement

An Australian law-governed agreement establishing arrangements for secure third-party data storage and conditional release between a depositor, escrow agent, and beneficiary.

find out more

Escrow Agreement It Software

An Australian-law governed agreement for the secure third-party storage and conditional release of software source code and related materials.

find out more

Source Code Escrow Agreement

An Australian-law governed agreement where a third-party escrow agent holds software source code and related materials to protect both developer and licensee interests.

find out more

Escrow Account Agreement

An Australian law-governed agreement establishing the terms and conditions for holding and releasing funds or assets in escrow, defining the rights and obligations of all involved parties.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.