Escrow Agreements – Chattan Escrow

Generally entered into with the software user tries the need for Escrow. All three parties sign the agreement and it is generally a once off arrangement from the Software Owner’s perspective.G

The scenario generally arises where the Software Owner initiates the escrow deposit and intends to have multiple Licensees registered. Chattan and the owner enter into a Master Escrow Agreement (MEA) that sets up the Escrow Account and then Licensees are nominated as Beneficiaries, as and when they enter into software license agreement with the Owner. The beneficiary nomination form together with the MEA constitutes the agreement between the parties.