📜General Instructions for Escrow Contract

Instructions and Fund Deposit

Once the buyer and the seller have agreed on the transaction details, and both have accepted the terms and conditions outlined in the Escrow by selecting the "Accept" button at the bottom of the transaction, these instructions constitute a binding agreement between all parties involved.

No further modifications are allowed, and in case of any necessary changes, the contract must be canceled and a new one created.

The transaction will begin once the buyer sends the funds to the smart contract using the dedicated button. The buyer agrees to send the funds as soon as possible.

Shipping and Item Tracking

Upon receipt of funds in the smart contract, the seller agrees to ship the merchandise within the packaging time if it is an item, or to deliver the service within the delivery time.

The merchandise must be shipped using a service that allows for shipment tracking.

The seller agrees to update shipping information (tracking code) on the DApp on the same day the merchandise is made available to the shipping company.

The seller will ship the merchandise to the buyer based on the information provided during the contract drafting.

The seller will be responsible for shipping damages if insurance has not been purchased.

The seller is required to inform the buyer of any customs duties, fees, or other charges resulting from an international transaction, which MUST be included in the purchase price unless otherwise agreed.

It is the seller's responsibility to correctly declare the merchandise and its value for customs procedures.

In general, it is important that the seller and buyer agree on the terms and conditions of the transaction in advance, and that both parties adhere to these terms to ensure a fair and transparent transaction.

Additionally, it is important that the seller and buyer ensure they are aware of all laws and regulations related to customs procedures and payments to avoid issues.

Buyer Acceptance, Fund Disbursement

During the inspection period, the buyer will have the option to:

• Select the "Accept" button to confirm receipt of the goods or services and that they are as described.

• Select the "Open Dispute" button and wait for a validator to take over the management of the negotiation.

• If the buyer does not select the "Accept" or "Open Dispute" buttons within the agreed inspection time, the buyer will be deemed satisfied with the quality of the goods or services and will have implicitly accepted.

Following confirmation or the end of the inspection period, Bitscrow will begin the fund disbursement process established to the seller minus the platform's service costs.

Fees

The costs associated with the transaction are:

• A 1% commission for the platform, withheld by the seller at the time of the transaction's successful closure if the payment is made in BTSCRW.

• A 2% commission for the platform, withheld by the seller at the time of the transaction's successful closure if the payment is made with alternative coins.

• A 4% commission withheld by the seller in case the transaction is resolved through a dispute, if the payment is made in BTSCRW, which includes:

  • 1% for the platform.

  • 3% for the validator responsible for handling the dispute.

• A 5% commission withheld by the seller in case the transaction is resolved through a dispute, if the payment is made with alternative coins, which includes:

  • 2% for the platform.

  • 3% for the validator responsible for handling the dispute.

Gas Fees

It is necessary to pay gas fees for every state change because every time the contract is executed on the blockchain, it requires computational resources for processing transactions and recording state changes.

The state change, for example, occurs when the buyer confirms receipt of the goods. This state change requires execution of the smart contract on the blockchain, which means that computational resources are required to process the transaction and update the contract state on the blockchain.

Therefore, for every state change in the contract, it is necessary to pay gas fees to cover the costs of processing the transaction on the blockchain.

The cost of gas fees varies based on network congestion and the amount of computational work required to process the transaction.

Dispute resolution

The buyer can initiate the dispute process in the following cases:

• The packing or preparation time is not respected

• The item is damaged or not functioning

• The item does not arrive at the destination

• The received item does not match the provided description

• Other In this case, additional information on the reason will be requested during the dispute opening. The dispute resolution process is handled by expert validators who will take over the dispute and contact you for further details.

Seller recommendations

To protect the merchandise during shipping, it is recommended to:

• Protect the merchandise with adequate packaging

• Avoid leaving empty spaces between the object and the box to prevent mechanical stress during transportation

• Prepare a video showing the functioning item with real date and time references

• Prepare a video during the packaging and boxing of the item, clearly showing any identification codes (e.g. serial numbers, barcodes, etc.)

• Make sure to close the package properly

• Always use shipping with tracking and, if possible, insured

• Apply the shipping label to the package closure and protect it with adhesive film to prevent possible tampering and damage that may occur during transport.

• Be as detailed as possible regarding the product and/or service sold during the Escrow contract drafting.

Buyer recommendations

To facilitate the resolution of any disputes upon receipt of the goods, we recommend that you:

Create a video during the unboxing process that clearly shows:

• The packaging of the parcel

• The shipping label

• Any damage to the goods

• Serial numbers and/or barcodes, if present

• Real date and time references

Do not accept goods without traceability.

Do not accept goods if the package is already damaged upon delivery.

We recommend that you always use the chat provided by the platform for the following reasons:

• The communications will be shared with the validator in case of a dispute.

• To communicate and exchange documentation related to the negotiation.

• In case the item for sale is of a digital type.

Tips:

• Use the integrated chat to communicate and exchange documentation related to the negotiation.

• Use the integrated chat if the item for sale is of a digital type.

Categories of prohibited goods on Bitscrow

On Bitscrow, it is possible to sell any type of goods or services except for those listed below:

• Firearms and ammunition

• Illegal drugs and controlled substances

• Child pornography

• Stolen or illegally exported cultural goods

• Counterfeit or pirated products

• Goods that violate copyrights or trademarks

• Products that are toxic or hazardous to health and the environment

• Products that violate the trade of protected animals and plants

• Products used for torture or to commit acts of terrorism.

While we are not responsible for any false statements made between buyer and seller, attempting to sell these categories of goods on our platform will result in the immediate cancellation of the contract, loss of funds, and possible reporting to authorities.

Indemnification: the parties involved in the transaction must indemnify the escrow for any loss or damage caused by a violation of this point.

Bitscrow reserves the right to modify the category of prohibited goods at any time to comply with laws and jurisdictions.