NGL Software Solution Escrow Account Program
Why do I need an Escrow ?
Transportation Management Software (TMS) has become "mission critical" to the financial well-being of small and large businesses.
Consequently, companies have a policy of requesting or requiring escrow accounts from their major software vendors. Enrolling as a beneficiary to NGL’s escrow account is an excellent step with complying with internal or external auditing requirements for disaster recovery. As a beneficiary, the Licensee is insuring their intellectual property in the event that NGL’s software can no longer be supported.
Becoming a Beneficiary
To become a beneficiary to NGL’s escrow account, please contact Next Generation Logistics, Inc. Enrollment as a beneficiary will be set up for the period of 1 year, after which you may renew your enrollment each subsequent year. Upon enrollment, you will receive written notification from National Software Escrow, Inc. that you have been added as a beneficiary to NGL’s escrow account.
About National Software Escrow, Inc.
National Software Escrow, Inc. (NSE) is a privately-held company located in Brecksville, Ohio (suburb of Cleveland). NSE holds intellectual property in escrow just as other escrow companies normally hold money. Although not a financial institution, NSE is very similar. NSE protects assets, and in this case, that asset is “information”.
National Software Escrow, Inc.
8225 Brecksville Road
Building Three, Suite #105
Brecksville, Ohio 44141
Phone: (440) 546-9750
Fax: (440) 546-0207
What is a Technology Escrow?
Services provided by National Software Escrow, Inc. protect the interests of NGL and customers who license our products. Escrow beneficiaries rely on NGL for technical support and maintenance. This dependency, especially if it involves software related to mission-critical business operations, exposes them to certain risks. If, for instance, NGL went out of business or stopped supporting the license software for other reasons, Licensees would likely suffer considerable losses in revenue and productivity. A technology escrow agreement gives Licensees the ability, under specific and controlled circumstances, to gain access to the source code needed to maintain the technology.
Storage of Escrow Materials
The Deposit Materials provided to National Software Escrow, Inc. by Physical Delivery will be stored, maintained, secured and preserved in a secure and climatized storage facility containing at a minimum:
· Certified Halon fire suppression system
· Computer-controlled humidity and temperature levels
· Vault and building monitored by 24-hour surveillance and alarm systems
· Key access restricting entry
· Air filtration system
The Deposit Materials provided to National Software Escrow, Inc. by Electronic Delivery will be stored, maintained and preserved having, at a minimum, the following:
· File encryption using applicable and appropriate standards.
· Data storage over several large-scale data centers throughout the world
· Protection against network security issues, e.g. (DDoS) and (IMITM) attacks and packet sniffing
· Redundant backups for data over multiple locations
National Software Escrow, Inc. offers a secure file upload service for clients’ electronic material storage. The website is secure and protected using a verified Secure Socket Layer (SSL).
Benefits of Becoming a Beneficiary
As a beneficiary to NGL’s software escrow account under this agreement, benefits will include:
· Protection of your intellectual property investment
· Storage of intellectual property in a climate controlled media vault
· Written notification that you have been enrolled as a beneficiary to the escrow account
· Written notification of any updates to the escrow account
· Ability to request an escrow deposit release or initiate a release request in the event that a triggering/release event defined in NGL’s escrow agreement occurs.
The fees associated with an escrow enrollment are:
· 1st Year Escrow Fee - $475
· Annual Renewal Escrow Fee - $375
· Release Request Fee – $150 (Fee associated with initiating a release request)
All prices are in $US.