Does your company need to store source code, drawings, contracts, or other valuable documentation securely? The Stockholm Chamber of Commerce offers escrow services as an independent third party. The depositing can be done either online, via e-Deposit, or physically.
Why choose escrow services through the Stockholm Chamber of Commerce?
Independent and non-profit since 1902
As part of the Stockholm Chamber of Commerce – a nonprofit and independent organization – we provide long-term security and complete impartiality.
Digital and physical depositing
We offer both physical deposit for business-critical documents, USB drives, and hard disks, as well as e-Deposit through our modern Escrow Platform. This makes it easy to deposit source code without sending files via email or post. All data is stored within the EU with the highest level of security.
Legal strength and industry neutrality
We offer ready-to-use model agreements developed in collaboration with leading legal experts, with the option to customize through addendums. Our service is used by tech companies, municipalities, law firms, banks, and international organizations.
Would you like to learn more?
Depositing protects the buyer
Escrow services safeguard the interests of both the buyer (licensee) and the supplier (licensor). Purchasing software and IT systems involves significant costs for companies. These systems are often customized to meet the buyer’s specific requirements, making the buyer highly dependent on the supplier.
If something unforeseen happens to the supplier, the buyer can be severely affected. However, through the escrow service, the buyer gains protection for their investment as well as continued access to the source code.
Depositing source code provides security for the supplier
Source codes are essential for using and developing software and IT systems. They are generally stored by the supplier (the IT company). However, if the IT company ceases operations, this could mean that the source codes become inaccessible to the buyer. Therefore, the Stockholm Chamber of Commerce offers secure storage of source codes, providing security for both the buyer and the supplier.
For the supplier, depositing source code offers protection of trade secrets and copyright to the software. When a copy of the source code is deposited with an independent third party, the supplier retains the rights to the software and can continue to commercialize and develop it.
To accommodate the supplier’s need for secure storage of trade secrets, the Stockholm Chamber of Commerce has chosen not to verify the source code. This approach ensures the protection of the licensor’s interests.
Other services related to deposition
We also assist companies wishing to deposit other types of documents, such as bid lists, agreements, contracts, or drawings. As an independent third party, the Stockholm Chamber of Commerce is also present during bid openings and lottery procedures in public procurement.
e-Deposit
This is e-Deposit via Escrow Platform
Escrow Platform provides e-Deposit and storage of source code.
Escrow Platform offers the parties a secure and efficient way to communicate, deposit, and store the deposited material.
Each agreement is assigned its own account on the platform once it has been registered by us. Only the contracting parties are invited and have access to the material on the specific site.
By assigning different access rights on the platform, it is ensured that the licensor can upload material but cannot change or delete anything once it has been uploaded. Similarly, the licensee will, just as before, be notified as soon as a new deposit is uploaded, but will not be able to access the material.
Advantages of Escrow Platform
- Eliminates the need to send sensitive material by post or email.
- Secure, cloud-based storage on servers within the EU.
- All deposits in one place – clear and searchable.
- Deposited material cannot be deleted or modified after being uploaded.
- Full transparency regarding who has access to the site.
FAQ
What is source code?
All programs are based on source code written in a specific programming language. Access to the source code allows a programmer who was not involved in the original program’s development to modify and enhance it.
Does the Stockholm Chamber of Commerce’s escrow service only apply to computer programs?
No, almost anything except cash can be deposited. Recipes, options, drawings, agreements, and other important documents are commonly deposited with us. We recommend contacting the Stockholm Chamber of Commerce before the deposit agreement is established.
Which agreement do you offer?
We offer a standard agreement, based on feedback from our customers. It is a tripartite agreement between the licensee, the licensor, and the Stockholm Chamber of Commerce. The agreement was created in collaboration with some of Sweden’s leading contract lawyers.
How long does it take before the deposit can be made?
In general, processing takes no more than five to ten days before the deposit can be made. This mainly depends on how extensive the changes to the deposit agreement are.
Can the Stockholm Chamber of Commerce verify the source code?
No, the Stockholm Chamber of Commerce has chosen not to perform verification. This approach safeguards the licensee’s interests by not delving into the actual code. We recommend that source code verification be conducted before the deposit is submitted to us.
What happens in case of bankruptcy?
If bankruptcy is listed as a basis for release, there is a risk that the bankruptcy trustee will oppose release if the right of use, as regulated here, is extensive (for example, exclusive).
The Stockholm Chamber of Commerce, due to legal uncertainty regarding the conflict between property law (the deposited copy) and the licensee’s right of use (copyright), cannot provide legal assurance that release will be possible in the event of bankruptcy.
How do I terminate a depository agreement?
Licensors and Licensees who wish to terminate the depository agreement must submit a signed termination notice. It is acceptable to scan and email such a document. There are no specific formal requirements for termination, except that the current agreement number must be included.
The termination notice must be received by the Stockholm Chamber of Commerce no later than December 31 to avoid the annual fee for the upcoming year.
Do you have questions about escrow services?
Would you like to learn more about the Stockholm Chamber of Commerce’s escrow services? Please contact us for more information.
+ 46 8 555 100 00
escrow@chamber.se
