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square-5Phase-5: Closing

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Phase 5: Closing

Objective: Final review, release funds, and complete the deal.

Status Bar: "Phase 5: Closing" after Phase 4 acceptance.

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Steps and Roles:

  1. Seller Status: Seller is now able to sign the release transaction, suggesting they have fulfilled deal terms. After signing, status shows "Awaiting Buyer Escrow Release Signature."

  2. Buyer Status: Buyer is prompted complete a final review of assets.

Buyer Options:

  • Release Escrow & Complete Deal: Triggers buyer's signature on the escrow release transaction (transfers funds to seller).

With buyer and seller now having signed the release transactions, the ⅔ release signatures have now been satisfied, and funds will programmatically be released to seller.

  • Report Issue: Notifies seller for requested review and fixes.

Execution: Release transactions are execute automatically via relay (gasless for users, paid from escrow). Funds release to seller.

Deal Completion: Both parties notified. Assets fully transferred; funds released to seller; deal completed & archived for users.

Tips:

  • Release signature: Users must connect wallet to approve release transactions.

  • Exitpad's Role: Mediate disputes upon request. If needed, request on-chain arbitration via Exitpad (e.g., hold/release/refund based on terms).

  • Post-Deal: Rate/review the other party.

Common Issues: Review delays; Request Exitpad Admin support if needed. Signature errors; ensure correct wallet connected.

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General Guidelines for All Phases

  • Progress Tracking: The status bar shows current phase and completion percentage. Click for details and to view previous phase completion details.

  • Notifications: Enable in-app/email alerts for timely responses.

  • Cancellations: Possible in early phases; post-escrow requires mutual agreement or dispute resolution.

  • Fees: Platform launches with ZERO fees. Future platform updates will include a 15% success fee (deducted from escrow).

  • Security Best Practices: Use hardware wallets, verify addresses, avoid sharing sensitive info off-platform.

  • Dispute Resolution: If issues (e.g. non-delivery), escalate to Exitpad mediation.

  • Note: Terms are user-agreed; consult professionals for complex deals.

This guide ensures a smooth experience on Exitpad. For updates or questions, check the FAQ or contact support.

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