Take a look inside Escrow365.
Want to set up an IT escrow in 30 minutes or less? This page shows you what’s inside of Escrow365, and how it works. Click the buttons below for more information on how to choose an escrow, set it up, and manage your account. If you have questions, feel free to reach out.
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Select your plan
When you’re ready to set up your escrow, you’ll need to pick the plan that works best for you. We’ve created three different plans, each of which has a different set of features and service levels. Not ready to start? Sign up for our free EscrowReady program!
EscrowReady
EscrowReady lets you set up 90% of the escrow, but you’ll only pay once you launch the service.
- End-to-end ISO-certified
- GIT repository synchronization
- Basic liability coverage
- Choose your jurisdiction: EU, Switzerland, or US
Essentials plan
Everything you need for an escrow, at an affordable price.
At €1250/USD 1375 per year, this is a great fit for lean teams looking for an easy way to meet client’s escrow requirements.
You’ll get:
- Everything in EscrowReady
- Weekly deposits via your GIT repository
- Monthly Monitoring report
- No set-up fee
Standard plan
The best value for your money, the standard plan costs €1395/USD 1535 per year. You’ll be able to deposit source code daily via automatic deposit, or you can manually upload the source code through a drag-and-drop option.
- Everything in essentials plan
- Daily automated deposits
- Increased liability insurance
- Drag and drop deposit option
- No set-up fees
Advanced plan
Need the best protection? The advanced plan is for you. At €2050/USD 2250 per year, it’s best for teams with lots of frequent code changes.
- Dual secured online vaults
- Maximum liability coverage
- Daily deposts
- Weekly Monitoring report
- No set-up fees
Customize your escrow
Once you’ve chosen a plan, it’s time to set up an escrow. You can choose the duration of the agreement, legal jurisdiction, and a release event that matches your particular case.
Choosing a duration
You can choose to have a 1, 2, or 3 years plan. We generally recommend you choose the length based on your licensing deal (so if your license is for one year, we recommend a 1-year escrow). This gives you the flexibility to end the escrow if your license agreement ends.
If something happens and you need to cancel your escrow, you’ll receive a pro-rated credit on your account that you can use towards your next escrow.
Jurisdiction
You have the choice of four different jurisdictions: the US (Florida, to be specific), Switzerland, and the EU (Germany and the Netherlands).
If you choose the Florida jurisdiction, you’ll (legally) do business with our US entity: Escrow365 Inc.
For EU and Swiss jurisdictions, you’ll work with our Dutch entity: Escrow365 B.V.
Release events
Release events are arguably the most important topic in any escrow agreement. They determine when your beneficiary has the legal right to access your source code.
There are two standard, fixed release events:
(a) Depositor has been declared bankrupt, dissolved or liquidated under the applicable insolvency laws.
(b) Depositor provides written consent to Escrow365 to release the Material or a court order under the applicable jurisdiction mandates the release of the Material.
Optionally, you’ll get to add one or more of the four common release events during the creation of the Escrow Protection Letter:
(c) Depositor ceases to carry on its business
(d) Depositor has transferred its business but the new party is not willing to continue maintenance and support
(e) Depositor, after having been duly given notice of default, is still in serious default
(f) Depositor, as a result of force majeure, is unable to comply with its obligations
You can read the exact legal wording of the release terms in Clause 8 of the Escrow365 General Terms.
Create an escrow agreement
Say goodbye to lengthy escrow agreements that require a PhD to understand. Instead, we’ve simplified things and split the agreement into two parts:
The Escrow Protection Letter
The EPL is a customized document that outlines the details of your specific escrow agreement. You can set it up in 5 steps with information about your business and the beneficiary’s business.
General Terms for Escrow365
The General Terms are a standardized form that cover 80% of all escrow cases. You can choose a legal jurisdiction between the US, the EU, and Switzerland.
Sign, pay, and start
All set? Once the paperwork is ready, you’ll need to sign it, and so will your beneficiary. After signing you can pay the invoice and Escrow365 will automatically sign the document—meaning your escrow is legally binding.
Upload your source code
You’re ready to go! Now all you have to do is connect Escrow365 to your GIT repository. This way Escrow365 can pull the latest versions of your source code at the frequencies you determined in your escrow agreement.
If you don’t want to connect your repository, you can manually upload the source code via a drag and drop feature.
Manage your escrow account
Your MyEscrow365 portal has everything you need to manage your escrow account. Log in and you’ll be able to get copies of your Escrow Protection Letter, see its status, see the latest deposits, and more.
Approximately 6 weeks before your escrow is set to end, we’ll notify you via email (and in the portal). You’ll have the option to stop the agreement if you no longer need it. Or you can simply renew the escrow automatically with one year. We’re advocates of transparency, you can manage your escrows the way you want with a few simple clicks.
Ready to start?
Set up your escrow in 30 minutes or less. Click the button below to explore the plans.
