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WorldEscrow N.V./S.A.
Your Business Continuity, our Service.

Online Support

Contact us

WorldEscrow
Level 2, Prestige Omega,
No: 104, EPIP Zone, Whitefield,
Bangalore – 560066
India
Tel +91 (0)80 6771 0903

Flanders Bio

What is it an Escrow agent does?

Escrow is the practice of a trusted third party safeguarding certain critical assets such as, for example, source code, aimed at assuring their conditional availability. At WorldEscrow, we don’t just safeguard the sources, but we also strive for an optimal quality of the assigned resources by verifying that every deposit is – at the very least – complete. This way usefulness and transferability of the deposit are guaranteed.

An escrow-procedure at WorldEscrow standardly contains the following steps:

1. The Escrow Agreement
a. With three parties:
Supplier and beneficiary negotiate an escrow contract. Key elements are the definition of the parties, the technology to be deposited, the transfer-and-release conditions from supplier to beneficiary and the price. WorldEscrow will assess the feasibility of the contract throughout negotiations and actively assist in formulating articles – if clients so desire. Once approved, WorldEscrow executes and manages the agreement.

Contact us for our 3P model escrow agreement.

b. With one supplier and multiple beneficiaries:
Supplier sets up an own contract with WorldEscrow, which he will then offer to his clients for subscription. These clients become beneficiaries of the agreement after registration at WorldEscrow. Registered beneficiaries will immediately receive a client ID, confirmation of registration and a copy of the verification report.

Contact us for our 2P model escrow agreement.

2. Depositing
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.

3. Verification
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.

4. Reporting
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.

5. Storage
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.

6. Pricing
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: