Verification of Escrow MaterialsSoftware Escrow Arrangement
Verification of Escrow Materials
National Software Escrow, Inc. will issue to the Technology Vendor and Beneficiary a receipt for the initial Deposit Materials and for each subsequent deposit. Such receipt verifies a delivery to National Software Escrow, Inc., but not a verification of the contents of initial Deposit Materials and/or for each subsequent deposit.
The default terms and conditions within National Software Escrow, Inc.’s Escrow Agreements state that upon request of a Beneficiary, the Technology Vendor must verify and certify that the Deposit Materials deposited accurately and completely comprise the Source Code and related documentation needed to support the current version(s) of the Software. The Technology Vendor and the Beneficiary will agree upon a mutually acceptable protocol for this verification and certification and National Software Escrow, Inc. will play no part in this protocol, other than providing a current copy of the Deposit Materials to a mutually designated location identified by both the Technology Vendor and the Beneficiary.