The Single Beneficiary Agreement is a tri- party Agreement between the licensee (single beneficiary), the software provider (owner), and EscrowTech India (the escrow agent). This agreement comes into effect when –
Escrow Materials – Escrow Materials are deposit materials that include the actual source code, files related to software, and other important documentation.
Release Condition – The condition or scenario that triggers the release of the deposit materials. It can be anything from bankruptcy, merger, acquisition, failure to provide continued service, etc.