Independent Escrow Agreement
Reference No: ESC-2026-8891-ID
Effective Date: November 1st, 2026
This Escrow Agreement ("Agreement") is entered into as a collaborative partnership by and between PT. Hans Company Indonesia ("HCI") and Sony Interactive Entertainment ("SIE"), facilitated securely by EscrowVault ("Escrow Agent").
01. SCOPE OF WORK
HCI shall execute the work based on the design, specifications, and list of deliverables according to sketches and blueprints from SIE, along with a schedule agreed upon in writing by both parties. Any changes to the scope of work must be approved in writing.
02. VALUE AND PAYMENT
The proposed project value is USD 6,000,000.00. The initial fund of USD 2,100,000.00 (35%) is planned through an independent escrow based on a separate agreement. The remaining USD 3,900,000.00 will be paid after the deliverables are accepted 100% according to the criteria of no issues regarding project bugs and system errors as mutually agreed. All these provisions must be confirmed in the final contract.
03. SCHEDULE AND ACCEPTANCE
The schedule, milestones, testing, and acceptance criteria are stipulated in a written attachment. Any rejection of the deliverables must clearly state the reasons and the specific criteria that have not been met.
04. CONFIDENTIALITY AND RIGHTS
Both parties are strictly obliged to maintain confidential information. The ownership or licensing of the design, code, documentation, and final project outcomes must be explicitly stated in writing in the final contract.
05. BREACH AND DISPUTES
Material breaches shall be notified in writing and the breaching party will be given the opportunity for rectification according to the agreed terms. The governing law and dispute resolution forum must be established in the final contract. If both parties violate the applicable escrow terms, the Escrow Agent will forfeit the stored funds.
06. CLOSING PROVISIONS
The final contract becomes legally effective only after the identities, signing authorities, scope of work, payment terms, escrow details, and governing law are fully verified and agreed upon by both parties. This document currently serves as a draft and does not constitute proof of SIE's final approval.