Ensure that you receive quality of service and value
for money.
It is vital that organisations perform due diligence when choosing an escrow provider.
The quality of an escrow service and an assessment as to whether it is fit for purpose can be split in to 5 areas which are of equal importance:
- Stability of the escrow provider
- Quality of Legal Expertise and Agreements
- Quality of Technical Expertise and Storage Facilities
- Testing of Source Code
- Ability to process release events
If the escrow provider is lacking or unproven in any of these areas then this could devalue the entire escrow process.
Key points to consider:
How long has the escrow provider been operating?
As well as showing that it is tried and tested, an escrow provider that has been operating for many years has also proven itself to be stable and well established. The stability of the provider is highly important as the nature of the service requires that it is able to operate in an economic climate where the software suppliers that it works with are under threat. Why choose an escrow supplier that is potentially more unstable than the software suppliers it is trying to work with?
With over 30 years experience, NCC Group is a robust and stable business. In addition to being the world’s leading escrow provider, NCC Group is also a market leader in IT Security and Assurance. This diverse portfolio of market leading services has provided consistent and sustainable growth in revenue and assured the long term stability of the business.
How many customers does the escrow provider have?
A good indicator of an escrow provider’s credibility and the quality of its service is the number of organisations that already choose to use its services. NCC Group is the world’s largest supplier of software escrow services and has over 15,000 customers worldwide. A wide range of Local Government, Health, Bluelight and Central Government organisations use our services, as well as 94 of the FTSE 100.
Does the escrow provider have an in house legal team?
Less established escrow providers may not have an in house legal team. It is vital to know whether the legal team behind the escrow provider is working for any other parties in case a conflict of interest could jeopardise the independence of the escrow provider during the release process.
NCC Group has a legal team of 4 qualified solicitors and 2 paralegals, all with significant and proven experience in the field of escrow.
Are the escrow agreements fair to all parties and are they workable?
It important not to take it for granted that all escrow agreements are the same and will work in practice. Based on English Law, NCC Group’s escrow agreements are regarded as the industry standard and have been developed by our in house legal team over 30 years. In short our escrow agreements are fair and workable and we have the in house, experienced legal expertise to alter our agreements if circumstances require.