Phase-2: Term Agreements
Objective: Negotiate and mutually agree on deal terms before involving funds or assets.
Phase 2: Term Agreements
Objective: Negotiate and mutually agree on deal terms before involving funds or assets.
Status Bar: Updates to "Phase 2: Term Agreements" upon proceeding from Phase 1.
Steps and Roles:
Buyer Submits Terms: Provide proposed terms via a form in the chat/deal interface. Include details like purchase price range, payment method (e.g., ETH, USDC), asset transfer expectations, timelines, and any conditions (e.g. due diligence period).
Seller Reviews: Notified of submission. View terms and choose to:
Accept: Proceed with deal.
Request Revision: Suggest changes and submit counter-terms.
Negotiation Loop: If revisions are requested, the buyer reviews and responds (accept or counter). This continues until mutual agreement.
Final Agreement: Both parties confirm acceptance. Terms are locked and viewable in the deal history.
Advance: Once agreed, move to Phase 3.
Tips:
Be clear and detailed in terms to avoid later disputes (e.g., specify all assets included).
Use the platform's tips for terms to ensure completeness.
Revisions: Limited revisions to avoid endless loops; platform enforces a max of 20 revisions.
Common Issues: Disagreements; try to be resolve via chat. Terms are non-binding until escrow.
Last updated