Escrow Arrangement CapCloud [CapCloud Academy Solutions BV]

CapCloud Academy Solutions BV signed an data escrow arrangement with Escrow Alliance to ensure the availability of the data stored in the web application CapCloud. The escrow arrangement shows that the people of CapCloud Academy Solutions thought about keeping temporary access to your data in the unlikely event something happen to CapCloud Academy Solutions.

Why an escrow arrangement?
IT plays a crucial role in today’s business operations. The question is how risks are mitigated when a supplier fails to deliver as a result of bankruptcy, acquisition or simply stops his business operations? What effect does this have on business continuity? And how does one ensure an uninterrupted use of business-critical applications such as financial software, software for business process management or document management software and the stored data in these applications?

With the data escrow arrangement CapCloud Academy Solutions ensured that if CapCloud Academy Solutions is not able to continue it’s services the data stored in CapCloud will remain available for 6 months, the so-called Exit Period, so you can
secure your data.

Structure of the Escrow Arrangement
The escrow arrangement consists of three components:
– Terms of Escrow
– Escrow Deposit
– Verification

Terms of Escrow
The Terms of Escrow is a derivative of the Escrow Agreement concluded between CapCloud Academy Solutions and Escrow Alliance. The Terms of Escrow stipulates the conditions as agreed between the parties as a part of keeping temporary
access in order to secure your data.

Escrow Deposit
The Escrow Deposit (Deposit) contains of all the materials needed to ensure the continuity of the application CapCloud in
order for end user to extract and secure his data.

On each deposit Escrow Alliance performs a Depot Check Service (DCS) which checks the physical conditions of the materials
and the media. Additionaly a Technical Verification Service Level 1 (TVS Level 1) checks for the presence of the basic
requirements in the Escrow Deposit as specified in the Terms of Escrow and checks wether these materials are sufficient enough to obtain and maintain the necessary access to the application CapCloud.

Data Escrow Arrangement CapCloud
The data escrow arrangement is aimed to keep the data available based on the terms as stipulated in the Terms of Escrow, so the end user is able to secure it. The independant Escrow Alliance Foundation for Continuity and Security and the technical
supplier of the application environment CapCloud are jointly responable for the execution of the escrow and they have declared their willingness to keep the application environment CapCloud available during the Exit Period and will inform the
end users.

In which events can the escrow be invoked?
The escrow can be invoked under strict conditions and based on verifiable facts. Furthermore, these conditions should be in accordance with the clauses laid down in article 8 of the Terms of Escrow. Release events in short:

  • Bankruptcy;
  • Ceasing its business undertaking without validly assigning its Maintenance Obligations and its obligations under the Escrow Agreement to a competent third party;
  • Not complying with its obligations under the Continuity Declaration in which parties have declared to keep the application environment CapCloud available during the Exit Period.

How to envoke the escrow as a end user?
The independant Escrow Alliance Foundation for Continuity and Security acts on behalf of the end user and sees to it that the application environment remains available during the Exit Period. If, based on article 8 of the Terms of Escrow, the
escrow is envoked the foundation informs the end users that the Exit Period is applicable and request them to secure their data.

If you are an end user and to your opinion an event as stipulated in article 8 of the Terms of Escrow occures you can report this to the foundation. The foundation acting on your behalf will verify if the escrow event has occured and when so will envoke the escrow.

Do I need to register for the Escrow?
As a end user of the application CapCloud you are entited to request the foundation to envoke the escrow. You are
automatically entitled to do so and do not need to take any action to register.

Information Escrow Arrangement (download):
To download this information as a PDF document, please click here.

CapCloud Academy Solutions BV
CapCloud Academy Solutions BV
Smart Business Park, Paviljoen A4
Kanaalweg 16G
3526 KL Utrecht
the Netherlands

T. +31 (0)88 170 2010

Escrow Alliance Foundation for
Continuity and Security (SCWEA)

Kenaupark 15

2011 MR . Haarlem
the Netherlands