Software Escrow Agreement
A Software Escrow Agreement is an agreement between the software owner, the party receiving the license and the escrow agent. Software Escrow means deposit of the source code of the software into an account held by a third party escrow agent. Escrow is typically requested by partywho is licensing software to ensure maintenance of the software. The software source code is released to the licensee if the licensor files for bankruptcy or otherwise fails to maintain and update the software as promised in the software license agreement.