Three levels of guarantee are commonly used in contracts to purchase services or products to guarantee the possible failure of a supplier.
Level 1: Standard deposit
Continuity requirements are covered by the supplier’s deposit with a third party, such as a notary, lawyer or specialized agent. This type of deposit does not allow access, verification or updating of the contents of the deposit.
Level 2: Standard Escrow Agreement
Unlike a standard deposit, a standard escrow agreement provides an improved response to contractual requirements by guaranteeing the beneficiary access to the items filed in the event of a proven release provision.
Level 3: Verified Escrow Agreement
A technical verification of the contents of the deposit is carried out prior to sequestration in order to guarantee access to a repository comprising flawless and complete documents, files and sources allowing a regeneration of the product or software in the repository.
Level 1: Standard deposit
Continuity requirements are covered by the supplier’s deposit with a third party, such as a notary, lawyer or specialized agent. This type of deposit does not allow access, verification or updating of the contents of the deposit.
Level 2: Standard Escrow Agreement
Unlike a standard deposit, a standard escrow agreement provides an improved response to contractual requirements by guaranteeing the beneficiary access to the items filed in the event of a proven release provision.
Level 3: Verified Escrow Agreement
A technical verification of the contents of the deposit is carried out prior to sequestration in order to guarantee access to a repository comprising flawless and complete documents, files and sources allowing a regeneration of the product or software in the repository.
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