Your role as beneficiary
An escrow agreement only makes sense once everyone knows what is expected of them. Softcrow makes sure that, as a beneficiary, you know exactly what to look out for, so that the deposit is actually usable if it ever comes to that.
What does Softcrow do for you?
Softcrow takes care of the agreement and enables you to formulate the release conditions to measure. Softcrow stores the deposit securely and neutrally. Through the Dashboard you always have insight into the status of your deposits and their specifications. On release, Softcrow coordinates the process.
What do you do yourself?
- Keep the encryption key safe: the supplier shares the key with you outside Softcrow. Without the key the deposit is unusable
- Check the deposit specification: this is the only readable information about what is inside the encrypted deposit. With every new deposit, check whether the specification is complete and understandable
- Perform a key verification: after every new deposit, check free of charge whether your key matches the checksum supplied with the deposit. The verification confirms the match with the received checksum; its correctness depends on the delivery by the supplier
- Have a verification audit carried out periodically: under independent supervision, the supplier builds a working environment from the deposit; you receive a verification report with the findings. We advise doing this at least once a year or once every two years
- Request release once the conditions are met: contact Softcrow, we check the release conditions and release the deposit. Make sure the right person within your organisation is authorised to make the request and that the encryption key is available
Want to know how this works in practice? We are happy to help you on your way.