tiktok³ÉÈË°æ

All Countries
Real Estate
Third Party Escrow Agreement

Third Party Escrow Agreement Template for Canada

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

4.6 / 5
4.8 / 5

Let's create your Third Party Escrow Agreement

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:

Third Party Escrow Agreement

"I need a Third Party Escrow Agreement for a healthcare software application, with specific provisions for PIPEDA compliance and enhanced security requirements for patient data protection, to be used between our Vancouver-based software company, a major hospital network, and a Canadian escrow agent."

Celebrated by
Collaborations with
Investors
Document background
The Third Party Escrow Agreement is essential in software licensing relationships where a customer relies heavily on vendor-provided software for critical business operations. This agreement, governed by Canadian law, provides a safety net for the customer (Beneficiary) by ensuring access to source code and related materials if specific trigger events occur, such as the vendor's bankruptcy or failure to maintain the software. The agreement details the Escrow Agent's duties, deposit requirements, verification procedures, and release conditions. It incorporates Canadian legal requirements, including those related to personal information protection (PIPEDA), digital assets, and bankruptcy regulations. The document is particularly crucial for long-term software licenses, mission-critical applications, or when the software vendor is a smaller or financially unstable company.
Suggested Sections

1. Parties: Identifies and provides details of the three main parties: Depositor, Beneficiary, and Escrow Agent

2. Background: Explains the context of the agreement, including the underlying software license or other commercial relationship between Depositor and Beneficiary

3. Definitions: Defines key terms used throughout the agreement, including 'Deposit Materials', 'Release Conditions', and 'Verification'

4. Deposit Obligations: Details the Depositor's obligations regarding what materials must be deposited, when, and in what format

5. Escrow Agent's Duties: Specifies the Escrow Agent's responsibilities for receiving, storing, and protecting the deposit materials

6. Release Conditions: Clearly defines the circumstances under which the escrowed materials will be released to the Beneficiary

7. Release Procedures: Details the specific process for requesting and executing a release of materials

8. Verification Procedures: Describes the process for verifying the completeness and accuracy of deposited materials

9. Fees and Payment: Specifies all fees, payment terms, and which party is responsible for what costs

10. Confidentiality: Sets out confidentiality obligations for all parties regarding the escrowed materials

11. Term and Termination: Specifies the duration of the agreement and circumstances for termination

12. General Provisions: Standard legal provisions including governing law, notices, assignment, and amendment procedures

Optional Sections

1. Multiple Beneficiary Provisions: Required when there are multiple beneficiaries for the same deposited materials

2. Deposit Updates and Maintenance: Needed when regular updates to the deposited materials are anticipated

3. Electronic Deposit Procedures: Include when deposits will be made electronically rather than physically

4. International Transfer Provisions: Required when parties are in different countries or cross-border transfers may be needed

5. Dispute Resolution: Optional detailed procedures for handling disputes, including arbitration provisions

6. Insurance Requirements: Specific insurance obligations for any party, particularly the Escrow Agent

7. Source Code Compilation Procedures: Required when the agreement includes verification of source code compilation

Suggested Schedules

1. Schedule A - Deposit Materials Description: Detailed list and description of all materials to be held in escrow

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

3. Schedule C - Deposit Form: Standard form to be completed with each deposit of materials

4. Schedule D - Release Request Form: Standard form for requesting release of materials

5. Schedule E - Verification Testing Procedures: Detailed procedures for verification testing of deposited materials

6. Schedule F - Contact Information: Contact details for key personnel from all parties

7. Appendix 1 - Technical Specifications: Technical requirements for deposit materials and storage

8. Appendix 2 - Service Level Agreement: Performance standards for the Escrow Agent's services

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

Software Development

Financial Services

Healthcare

Manufacturing

Government and Public Sector

Telecommunications

E-commerce

Professional Services

Critical Infrastructure

Relevant Teams

Legal

Information Technology

Procurement

Risk Management

Information Security

Software Development

Vendor Management

Finance

Operations

Compliance

Relevant Roles

Chief Technology Officer

Chief Information Officer

Legal Counsel

Software Development Manager

IT Director

Procurement Manager

Contract Manager

Risk Manager

Information Security Officer

Technical Architect

Business Continuity Manager

Vendor Management Director

IP Counsel

Chief Financial Officer

Operations Director

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

A Canadian-law governed agreement establishing escrow arrangements for cloud-based software materials between vendor, customer, and escrow agent.

find out more

IP Escrow Agreement

A Canadian legal agreement where IP assets are held by a neutral third party to protect both the owner's and beneficiary's interests under specified conditions.

find out more

Technology Escrow Agreement

A Canadian-law governed agreement establishing terms for secure third-party storage and conditional release of proprietary technology materials between owner, beneficiary, and escrow agent.

find out more

Escrow Purchase Agreement

A Canadian legal document establishing terms for secure asset purchases through an escrow arrangement, governed by federal and provincial laws.

find out more

Construction Escrow Agreement

A Canadian legal agreement governing the management and disbursement of construction funds held in escrow, ensuring secure and regulated project funding.

find out more

Strict Joint Order Escrow Agreement

A Canadian legal agreement establishing an escrow arrangement requiring joint authorization from all parties for the release of held assets, governed by federal and provincial laws.

find out more

Closing Escrow Agreement

A Canadian-law governed agreement establishing terms for holding and disbursing funds or documents through an escrow agent during transaction closing.

find out more

Third Party Escrow Agreement

A Canadian agreement establishing software source code escrow arrangements between a vendor, customer, and escrow agent to ensure business continuity while protecting intellectual property rights.

find out more

Escrow Release Agreement

A Canadian agreement governing the release of assets or funds from escrow arrangements, specifying conditions and procedures under federal and provincial laws.

find out more

Voluntary Escrow Agreement

A Canadian-law governed agreement establishing terms and conditions for voluntary escrow arrangements, including appointment of escrow agent and management of escrowed assets.

find out more

Data Escrow Agreement

Canadian-law governed agreement establishing terms for third-party data escrow arrangements, ensuring secure storage and conditional release of critical data assets.

find out more

Escrow Agreement To Hold Funds

A Canadian-law governed agreement establishing terms for a third party to hold and manage funds until specified release conditions are met.

find out more

Escrow Waiver Agreement

A Canadian agreement documenting parties' mutual consent to waive escrow services in a transaction, including risk acknowledgments and alternative arrangements.

find out more

Escrow Holdback Agreement

A Canadian legal agreement establishing terms for holding funds in escrow as security, specifying parties' roles and release conditions.

find out more

Source Code Escrow Agreement

A Canadian-law governed agreement establishing source code escrow arrangements between software developer, beneficiary, and escrow agent to ensure business continuity while protecting IP rights.

find out more

Escrow Deposit Agreement

A Canadian-law governed agreement establishing terms for holding and releasing funds or assets in escrow, defining roles and responsibilities of all parties involved.

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.