Multiple Beneficiary – Separated Escrows

WHO IT IS FOR

The Multiple Beneficiary – Separated Escrows “MB-SE” agreement is a multiple party agreement between a software vendor (owner), EscrowTech India and any additional number of beneficiaries (licensees) that have their own customized deposit materials. This type of agreement is used when:

  • There is one software vendor
  • There will be one or more beneficiaries (licensees)
  • The deposit materials for each beneficiary are customized and should be stored separately

HOW IT WORKS

  • Beneficiary Registration Form – This form is used to add a beneficiary to the escrow account. In addition, if needed, this form allows a beneficiary to have unique release conditions different from other beneficiaries.
  • Deposit Materials – The actual source code, documents and any other important material.
  • Release Conditions – What must occur for the deposit materials to be released. See helpful contract language.