A Source Code Escrow Agreement is the deposit of application source code with a neutral third party, the escrow agent. In such an arrangement source code of the software is deposited with a third party escrow agent. Escrow is typically requested by a party licensing software (the licensee), to ensure maintenance of the software. The software source code is released to the licensee if the licensor files for liquidation or otherwise fails to maintain and update the software as promised in the software license agreement. Hereunder is a sample format of a source code license agreement as applicable in India. You could view the said sample and have one custom prepared for your business needs.
