Terms and Conditions of Contracts for Projects from POME by Gautam Koppala VT
SBU.
Escrow:
Occasionally Project/ Product/ Services Organization may be requested to place into escrow with a third party company a copy of the software supplied (usually the source code) and other relevant documentation used on a project. The buyer’s intent is to make the software/documentation available to it in the event that Project/ Product/ Services Organization becomes bankrupt or otherwise fails to fulfil its contractual obligations or obligations regarding maintenance of the software code. Project/ Product/ Services Organization Policy is not to agree to any such escrow requirements. The Project/ Product/ Services Organization position on this issue is that Project/ Product/ Services Organization is a mature and stable company that represents an extremely low risk for the type of situations that might support this type of
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