Practice English vocabulary for software escrow agreements: source code deposit, release conditions, verification audits, and beneficiary rights.
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The software vendor places their source code with a neutral third party to protect the client. What is this arrangement called?
A 'software escrow agreement' is a legal arrangement where source code is deposited with a neutral escrow agent, who releases it to the client under defined conditions such as vendor insolvency.
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The vendor regularly uploads updated source code to the escrow agent's secure vault. What is this action called?
A 'deposit' in escrow vocabulary means the vendor submitting materials (source code, documentation, build instructions) to the escrow agent for safekeeping.
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The escrow agreement lists specific events that allow the client to receive the source code. What are these events called?
'Release conditions' (also called release triggers) are the specific circumstances defined in the escrow agreement under which the escrow agent may release the deposited materials to the beneficiary.
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The client pays for a test to confirm that the deposited source code can actually be built and run. What is this called?
A 'verification audit' (or technical verification) is a service where the escrow agent or a third party confirms that the deposited source code is complete, buildable, and matches the production software.
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The client who is protected by the escrow agreement and can receive the materials upon a release event is called what?
The 'beneficiary' is the party (usually the client/licensee) who is entitled to receive the escrowed materials if a release condition is met. The 'depositor' is the vendor who places materials into escrow.