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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SaaS, ASP Agreements – FAQs – Data Protection

Data protection issues must be adequately covered in any SaaS agreement to protect both the supplier and the customer. Data Protection Act 1998. The Act applies to the processing of personal data, for example name/email addresses, dates of birth, national insurance number of any living individual.

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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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Interest from Customers who Pay Late – BTB

In the current economic climate, business customers often deliberately delay payment of invoices. Protect your business and improve your cash flow, by exerting your right to claim interest on late payments. Is an interest clause required in the contract? No. There is no requirement to have an interest clause in

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SaaS Agreements – SLAs – Essential Elements

Customers thinking of purchasing software delivered via the Internet (SAAS) are often unaware of what terms should be included. Jargon in the SLA can seem like a foreign language. Customers often tend to simply accept the SLA provided by the supplier, rather than struggle to understand it.

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SAAS, ASP, software on demand – confused?

What is SAAS? This is the abbreviation for “software as a service”. You may know this under another name, for example ASP services (application service provider) or software on demand. These names all refer to the same thing – and simply mean that you are accessing and using software via the Internet.

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