Bibby Financial Services license two business critical software applications from a third-party supplier and as part of their operational resilience processes, they wanted to implement Software Escrow & Code Validation assurances. Having worked closely with their SES Account Manager and technical team, Bibby knew that SES had the expertise to meet the project scope and requirement.
By creating a Master Framework Software Escrow agreement, their application service provider now has the flexibility to deposit the relevant source code and application materials for each platform under separate repositories. From there, on an annual basis, SES’s expert Source Code Validation consultants work with the development team to witness and record the validation process which is then stored in the respective repository with the platform source code and materials.
This approach meant multiple applications could be covered under one Framework set of terms, reducing the expenditure of multiple Source Code Escrow agreements. The annual Software Escrow validation process provides assurances to Bibby Financial Services that SES can provide an effective exit strategy should the Software Escrow agreement ever be triggered.
Bibby Financial Services is a multinational corporation that provides financial services to small and medium-sized enterprises. The company is a subsidiary of the Liverpool-based Bibby Line Group, which was founded in 1807.