| Escrow is a way
to transfer any type of property and/or money using a neutral
third party |
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| When entering
in to a contractual transaction with unknown parties, you
may desire protection |
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| Today’s
businesses are increasingly dependant on crucial assets
that they do not |
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| Today’s businesses are increasingly dependant
on crucial assets that they do not owner control, such as their software
that controls the business-critical functions of the company or industrial
product designs supplied by a third party.
Business process escrow is straightforward; an independent provider
(BCES) holds a copy of these assets, with the supplier’s agreement,
on the end users behalf under an escrow agreement. This ensures
that if the supplier’s business fails or they do not maintain
their contractual obligations, the material can be accessed and
released to the user quickly and legally, leaving them free to carry
on without disruption.
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