As Independent Trusted Third Party and Escrow Firm we offer an easy-to-use, clear-cut and highly safeguarded business continuity assurance, guard critical technological DNA & IP and all core critical assets of your company/organization suchs as : software source code, comprehensive databases, passwords and licenses, industrial designs, formulas, ... through Intelligent technology escrow solutions grounded by internationally recognized Agreements and contracts. Our unique combination of traditional values of craftsmanship and teamwork, together with a highly client-focused approach, WorldEscrow has managed to consolidate its position as a prime quality player. WE treats its clients as partners in need of Protection and Business Continuity assurance, and offers that assurance to measure.
To optimally serve our customers, WE group has operating branches in United Kingdom, Belgium & Scandinavia.
Furthermore we have a number of representations in several countries around the globe.
An escrow-procedure at WorldEscrow standardly contains the following steps:
Contact us for our 3P model escrow agreement.
Contact us for our 2P model escrow agreement.
After the signing of the contract, WorldEscrow will request a first deposit at the supplier. Depositing is possible through an online, one-use-only FTP connection or via courier service. WorldEscrow maintains the strictest possible security policies (which you may consult here). Standardly an update of the deposit is requested annually.
As soon as the deposit has arrived at WorldEscrow, it is stored on a physical carrier that is not connected to any network. The verification process starts immediately by allocating certain objective traits of the deposit,.. The deposit is then accepted into the planning and will be allotted a target date, by which it is to be verified and a verification report is to be set up. Every deposit standardly undergoes a level 1 (standard) verification. An extended verification is executed when requested by either supplier or beneficiary.
More info on our levels of verification can be found here.
The findings from the verification are written down in a report. These reports are delivered to the beneficiaries, after evaluation with the supplier. The reports contain the collected observations, points of attention and suggestions for improvement of the deposit, and thus contribute to a stepwise upgrading of the deposit and of the knowledge contained within said deposit. This way, an escrow procedure assists in the objectively assessing of intellectual property – which helps all parties involved.
After verification, the deposit is stored in a vault, and will remain there for the duration of the contract. For continuity purposes, a second copy of the deposit will be stored in a separate location in a separate vault with separate access restrictions. This way, the deposit remains available – no matter what.
The price of our escrow service is comprised of an annual subscription fee and a service-based variable part. In addition, the first year we charge an administrative sum for the processing and bringing up to standards of the first deposit – as this normally takes more assistance, time and work. The annual subscription includes the standard level 1 verification and reporting.
If an extended verification is requested, we propose a set price in advance, based largely on the findings of the Level 1 verification. The final variables are how often there is to be deposited and – should a release occur – the release & transfer fee.
For more information or a tailored offer: Contact us
Software escrow is WorldEscrow’s core business and the service that made us world leader in qualitative escrow solutions. Software Escrow guarantees the continuity of essential software by requesting its DNA – the source code and all related user and technical documentation – and safeguard it in the form of a deposit. Should the supplier prove to be incapable or unwilling to maintain the program, WE transfers the deposit to the beneficiary. That way, WorldEscrow limits the amount of resources and time lost in the change to an absolute minimum. In addition to the simple depositing, we offer a very extended verification service. This service entails that we check the usability and transferability of the deposit through a set of tests. WorldEscrow standardly offers a level 1 verification. For more information about verifications, click here!
For more information about software escrow: contact us!
Data Escrow could be defined as “a verified back-up.” In this case WorldEscrow stores the database mechanics, the data and any and all related information or technology, like a back-up. However, aside from that, WorldEscrow tests the data per save. The nature and size of these tests vary depending on the type of data and the size of the database, but the goal is always to guarantee the demonstrable completeness of the data and the database. For more information: contact us!
Certified custody of critical and legal documents
Contracts, documents, plans, studies and research – in short all business-critical intellectual and legal material that accompanies evolving relationships, projects and companies - can be taken in custody in a safe, sustained and transferrable way, without any time-limitation. We formally confirm that a deposit is made, thus proving the availability of the materials without releasing any of its critical content. WE has the technology to archive the materials in an intelligent, manageable, structured and absolutely safe way without any limitation on volumes or data transfer. Prices are set on data-volumes or item-based, whatever is most suitable.
We call this Archive-Escrow, as we strictly operate as the independent escrow-agent between all parties involved. You can count on us for a flexible, practical archiving and reporting without limitations.
You can find more information about us!
Or you can contact us!
With SaaS (software as a service) applications, a traditional software escrow is no longer sufficient. In case of failure of the licensor or host, WorldEscrow seeks to optimally guarantee your business continuity by creating a ‘mirror’ of the running application. WorldEscrow always aims to allow the beneficiaries to continue using the application without interruption. WE anticipates a failing scenario from the start and counters it by putting a solid transfer-scenario in place for the application, the data and – should it be necessary – the hosting provider. For more information: contact us!
Financial Escrow Services facilitate your (international) purchasing by having a trusted third party observe the transaction of goods and funds. In order to assure you we have all parties’ best interests at heart, we offer you the best, most flexible and most economic conditions in the industry.
In practice, Buyer and Seller authorize WorldEscrow as a neutral and independent Escrow Agent to open an Escrow Account at a partner bank (e.g. Belfius Bank in Brussels, Belgium) in order to monitor the buying and selling of goods and the transfer of the purchasing price. In short: WorldEscrow will monitor the transaction by observing and reporting whether or not service is delivered and the fees are paid. What this means is largely dependent on the contract between seller and buyer, the terms of which will be observed by WorldEscrow.
The account will be held in the Clients’ name, is available at any time, and is managed only in accordance with the instructions provided by the clients.
As WorldEscrow explicitly acts as a business facilitator, not as a bank, we offer this service in close cooperation with a partner bank (e.g. Belfius). WorldEscrow acts in good faith as a Trusted Third Party, and handles the Financial Escrow Account accordingly. For more information and custom price offers: contact us
An Industrial escrow agreement allows for the deposit of all sorts of blueprints, schematics, plans and technological details. These deposits are automatically time-stamped and can be transferred to the beneficiary or another supplier in case the supplier stops maintaining, producing or otherwise supporting the set-ups, machinery or industrial critical components. This way, the beneficiary can continue to maintain and/or upgrade the existing industrial component. For more information: contact us!
Website escrow is largely comparable to software escrow, but also focuses on intellectual property. In Website Escrow, a deposit is made of the front- and back configuration, among which a description of specific design and application elements. The deposit is time-stamped and the date of first deposit is recorded. This way, WorldEscrow allows you to prove that you are owner of the site and any and all intellectual property present on it. For more information: contact us!
This very specific form of escrow is an insurance on invested capital. In Investor escrow, WorldEscrow creates a deposit of the materials of the research or project that is being invested in. This deposit is comprised of any and all research materials, notes, development diaries and the intellectual property admission. Should the project come to a standstill during development, the deposit is released to the investors. This way, they might be capable of finishing the project with a different team and yield some profits, where otherwise they might lose the entire investment. For more information: contact us!
This basic verification is carried out on all deposits stored with WorldEscrow. Materials are verified for the presence and readability of the source code and related documentation, as mentioned on the 'Escrow deposit specification form'.
With over 15 years of experience in technology escrow, it is our experience time and again that approximately 75% of the escrow deposits do not - initially - meet the basic requirements. Deposits are illegible, incomplete, missing documentation or files contain viruses. If this type of deposit were to be released, they would most probably be useless.
As a provider of quality escrow services, we therefore require verification: every escrow deposit that we receive undergoes at least basic verification. The verification is part of every Escrow agreement and is carried out by our own Technical Department. The quality of the deposit can only be determined using verification. The objective of a Level I verification is to verify that the materials are present and legible in the form specified by the supplier on the Escrow Deposit Specification Form. A Level I features:
The annual escrow fee includes the costs for one Level I verification per year. However, this type of verification does not offer any guarantee that the deposit is accurate and complete compared to the user's operational environment, nor is the usability of the source code verified. Naturally, additional detailed verifications (Level II or Level III) offer a higher degree of security.
The objective of this optional verification is to guarantee the completeness of the source code. Source code is compiled on a standalone computer and missing or wrong data are reported to the supplier in order to correct or complete the source code.
Level II verification came about as a result of the difficulties many software developers had delivering complete source code. If you consider that a software package often consists of hundreds of components, then you will understand how easily this problem can occur.
Examples that we have encountered in practice:
The main objective of Level II verification is to verify whether the delivered source code compiles without any problems on a standalone computer, following the build instructions. The steps in the Level II verification procedure are as follows:
This type of verification prevents any potentially incomplete deliveries of material to a great extent. However more thorough and in debt than the Level I verification, the level II doesn’t say anything about usability in comparison to the version and environment that the user uses. Which is something a Level III can verify.
This Extended PLUS Verification is an extended, customized verification. Besides compilation, a project plan is made up in agreement with the different parties to define the additional activities/tests to be executed.
Level III is the most advanced verification method carried out at WorldEscrow. The objective is to determine with the greatest possible certainty that an Escrow beneficiary will have access to resources to maintain, change, correct and/or modify the software (or have this done by others) should the software supplier prove unable to do this any longer.
An Extended PLUS is allways a customized verification. WorldEscrow presents a list of possible activities / tests from which the involved parties can choose. Part of the verification will sometimes be executed at the supplier's site by the technical department of the supplier as well as of Escrow Europe. If requested a comparison can be made between the compiled code and the version in production.
A successful Level III verification implementation not only offers the highest level of certainty that the Escrow deposit is complete, but also that this deposit contains the material needed to quickly start using the material, should release take place.
Approximately 75% of the Escrow deposits do not meet the requirements for our standard verification (Level I). The higher the level of verification, the greater this percentage becomes: 95% of the Escrow deposits do not initially meet the requirements for Level III verification. In order to be sure that a deposit is complete, parties are advised to have the material verified by WorldEscrow at Verification Level III at least once a year.
A Level III verifcation guarantees that the deposit is usable and up-to-date. Thanks to this type of verification, we have seen in practice that beneficiaries can very quickly start maintaining the application in the case of release.
The Basic Service Level is the most rudimentary form of escrow. The focus is entirely on safekeeping.
A Basic Service Level, is what we call a semi-escrow contract. The reason for this is that, with the BSL, the focus is entirely on safekeeping, and not as much on offering continuity. A Basic Service Level is the utmost rudimentary form of Escrow Services. It is best comparable to the ‘secured storage’ service, that you can ask a notary to do. However, even on the most basic of services, WorldEscrow offers some additional services that a notary can’t or wouldn’t offer.
In case of BSL, WorldEscrow checks the presence of a EDSF (Escrow Deposit Specification Form), which is the basic document for any Escrow deposit.
Secondly, a limited readability test is executed. We decompress the deposited data, check it for viruses and decrypt it. Then we store it in one of our vaults.
You can understand that we do not recommend this service. The reason may be clear: it offers virtually no continuity guarantee. Especially for users, this service is not recommendable. It is slightly different for suppliers, because they can ensure themselves of having an escrow-clause in their contracts. However, the same message counts here: the continuity guarantee for your customers is virtually non-existent. Therefore, we strongly recommend to consider the higher service levels, such as the level I, level II or level III.
Basic Service Level, is what we call a semi-escrow contract. The reason for this is that, with the BSL, the focus is entirely on safekeeping, and not as much on offering continuity. A Basic Service Level is the utmost rudimentary form of Escrow Services. It is best comparable to the ‘secured storage’ service, that you can ask a notary to do. However, even on the most basic of services, WorldEscrow offers some additional services that a notary can’t or wouldn’t offer.
In case of BSL, WorldEscrow checks the presence of a EDSF (Escrow Deposit Specification Form), which is the basic document for any Escrow deposit.
Secondly, a limited readability test is executed. We decompress the deposited data, check it for viruses and decrypt it. Then we store it in one of our vaults.
You can understand that we do not recommend this service. The reason may be clear: it offers virtually no continuity guarantee. Especially for users, this service is not recommendable. It is slightly different for suppliers, because they can ensure themselves of having an escrow-clause in their contracts. However, the same message counts here: the continuity guarantee for your customers is virtually non-existent. Therefore, we strongly recommend to consider the higher service levels, such as the level I, level II or level III.
VISION: As a independent Trusted Third party, we concentrate entirely on active custom made Escrow services, in other words, Escrow includes both compulsory verification of every deposit and tracking of updates and new releases. This safeguards the quality of the deposits. Our team consists of Escrow specialists, with legal, ICT and insurance competence. The combination of these expertise gives WorldEscrow a unique position in the market. Whereas most Escrow agents are either legal or technical specialists, we can call ourselves Escrow Experts.
