SaaS, ASP Agreements – FAQs – Escrow

When negotiating a SaaS agreement you may come across the term escrow. What is escrow and is an escrow agreement necessary? Under the terms of a SaaS agreement you do not own or have any rights to the software (which includes the source code) that you are accessing. This is usually not an issue until technical problems arise, i.e. unexpected service interruptions, downtime, loss of application functionality and loss of data. This can add significant costs to your business and you are dependent upon the supplier to resolve these issues, unless you have an escrow agreement in place.

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SaaS, ASP Agreements – Source Code and Object Code

When negotiating a SaaS agreement you will come across the terms source code and object code. What is the difference between source code and object code? Source code is the version of a computer programme that exists prior to the software being ready to compile and run on a computer. The source code consists of a number of statements created in a text form by a programmer.

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Website Legal Requirements – Ecommerce

About Us/Contact Information. You must provide the following information in an easily accessible position on your web site:

* your legal name i.e. XYZ Ltd
* your geographical address
* contact details i.e. telephone number, fax number and email address
* which country your business is registered in and the registration number
* details of any supervisory body which regulates your business i.e. the FSA. For regulated bodies more detailed information is required.
* where you are registered for VAT and your VAT number
* clear details of prices and whether or not delivery and/or tax is included

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