There is no 3rd party involved in the transaction. The involved parties choose to ship and release the funds when they are ready.
The platform is just a gateway to the Nebulas smart contract and provides the tools necessary to interact with the Blockchain.
At this moment, there is NO transaction fee. The cost is the one the seller and buyer agreed upon.
The NAS Blockchain provides the immutability and persistance of the transactions.
Below is a basic escrow transaction flow between a seller and a buyer.
The buyer or the seller starts a transaction in which they describe the product details that is being traded and the price in NAS.
The seller/buyer accepts the escrow transaction details and price and chooses to reject or accept the transaction.
After buyer has deposited the necessary funds within the Nebulas contract, the seller can choose to Ship the product and provide the shipment details.
After receiving the product, the buyer has X amount of days to inspect the item and release the funds to the seller.
The funds are being kept secure in the NEBULAS smart contract. They can't be released or refunded by anyone other
than the parties involved. When buyer chooses to release the funds, they will automatically be credited within the seller NEBULAS adderess.
In case of a disagreement between the parties, they both have an option to dispute the transaction, in which case it will be handled only by the nas-escrow developer without any additional fee.
Below is a list of under development features in order to
facilitate the usefulness of the Escrow smart contract. Hover over each section for more details.
For any platform problems or enquiries, or any dispute arrangements
please use the email address below.