Escrow agreements keep up with the new demands of SaaS

I would be the first to agree that not every technology transaction will benefit from an escrow agreement. However the growing acceptance of SaaS is compelling more businesses to re-examine the role that software escrow plays in business continuity plans.

Business is finding that modern escrow agents have evolved and new practices are playing an important part in SaaS arrangements.

SaaS software escrow - More than you expect.

A standard software escrow agreement will not suffice for SaaS, managed services, cloud based solutions.  Here are some things to keep in mind when you are considering a SaaS solution for your business:
You need the source code yesterday!
In a traditional software escrow arrangement, the release of material is triggered by the nervous software end-user. At that point the escrow agent will issue a notice of release to the software vendor and, if  everyone agrees, the source code is released to the end-user. (Notice, Verify, Act)