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.
The fees associated with an escrow enrollment are:
Annual Renewal Escrow Fee - $375
1st Year Escrow Fee - $475
Release Request Fee – $150 (Fee associated with initiating a release request)
All prices are in $US.
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.