The notary, depository or trustee of source codes

Delivery of source codes of a software to the notary acting as a trustee or custodian.

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The provider and the licensee agree, by mutual agreement, to deposit the source version of the software, the source codes, and their updates with a depository. The notary, given their impartiality and code of ethics, is the appropriate person for this function. Furthermore, the terms of holding the source codes by the notary are governed by the Regulation on the Notaries' Trust Accounting (Professional Code, C-26, s. 89).

Once an update or a new version of the targeted software is ready to be commercialized by the provider, the latter must deposit the corresponding source codes with the depository. For the duration of the agreement, the notary-depository must receive all updates of the targeted software and all source codes and keep them in their vault.

At no time does the depository have an obligation to ensure that the deposited assets constitute, in terms of their content, the assets that must be deposited with them under this agreement. The licensee may at any time verify any deposit made by the provider with the depository, in order to determine if the deposited documentation constitutes the most recent source version of the software and documentation.

After receiving written notice from the licensee regarding a provider's default, the depository must promptly provide the licensee with a copy of the source codes they hold.

The depository service includes opening file fees, annual membership fees, as well as fees for deposits and updates. These fees are usually borne by the licensee.

The file opening fees and the first-year membership fees are payable upon signing the deposit agreement. For subsequent years, the annual fees will be due on each anniversary date of the agreement's signing. All fees are subject to review and may change on each anniversary date of the agreement's signing.

An annual storage fee may eventually be charged by the depository to the provider, based on the volume of media used for deposits.

Therefore, it is important to consult Notaire-Direct, specializing in this matter, as they are required to be impartial.

If you need more information on this service, please contact us
514 374-4303
Email
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