Finbotx offers this escrow arrangement to assure its customers that the availability of the Finbotx application is guaranteed. The escrow arrangement shows that the people at Finbotx have thought about your business continuity in the unexpected event that Finbotx cannot guarantee the continuity of the Finbotx application.

Why an escrow arrangement?

IT plays a critical role in today’s business operations. If you value business continuity The question is how are risks mitigated if a supplier fails to deliver due to bankruptcy, acquisition or simply ceases operations? What effect does this have on business continuity? And how do you ensure uninterrupted use of business-critical applications such as financial software, business process management software or document management software?

On the other hand, the intellectual property of the supplier must be protected and it is not desirable for “source materials” to be owned by the customer (end user). These materials are undoubtedly the supplier’s core assets and that requires adequate protection, both legally and in the operational handling of these materials.

Escrow Alliance mitigates these IT risks through the use of active arrangements.

Be more confident with comprehensive verifications

By default, Escrow Alliance performs a verification service level 1 on all materials on deposit. Customers may request an extended verification to prove that:
– The security measures set forth in the escrow arrangement and its annexes are sufficient for their requirements
– Materials in depot can be converted into an exact copy of the used product
– Customer data can be downloaded after a release event has occurred