A Data Escrow Agreement is essential when parties need a secure mechanism for storing and potentially transferring critical data under specific circumstances. This agreement, governed by English and Welsh law, is commonly used in technology licensing, business continuity planning, and data-dependent commercial relationships. It defines the responsibilities of the escrow agent, conditions for data release, security requirements, and compliance with UK data protection regulations. The agreement is particularly relevant when businesses need to ensure data availability while protecting their intellectual property and maintaining regulatory compliance.
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1. Parties: Identification of contracting parties including data owner, escrow agent, and beneficiary
2. Background: Context and purpose of the escrow arrangement
3. Definitions: Key terms used throughout the agreement
4. Deposit Materials: Description of data to be held in escrow
5. Escrow Agent Obligations: Core duties and responsibilities of the escrow agent
6. Release Conditions: Circumstances triggering release of escrowed data
7. Security Requirements: Data security and protection measures
8. Term and Termination: Duration and termination provisions
1. International Transfer Provisions: Required when data transfers outside UK are contemplated
2. Verification Procedures: Procedures for verifying deposited data and ensuring integrity
3. Disaster Recovery: Business continuity provisions for critical data backup arrangements
1. Schedule 1 - Deposit Materials: Detailed description of escrowed data and format
2. Schedule 2 - Security Requirements: Technical and organizational security measures
3. Schedule 3 - Service Levels: Performance standards for escrow services
4. Schedule 4 - Fees: Fee structure and payment terms
5. Appendix A - Release Request Form: Template for requesting release of escrowed data
6. Appendix B - Contact Details: Key contacts for all parties
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