Post
Topic
Board Altcoin Discussion
Re: Developer’s advices to ICO investor.
by
hero10
on 04/03/2018, 09:16:30 UTC
Simple Escrow contract

Schemes of work:

•   Once the customer deposits money for the contract, then his address is remembered and the contract starts counting down 12 days
•   If the developer called failedByDeveloper, then the money is returned to the customer;
•   After 12 days, the contract will count the period for another 5 days. During this period, the customer must make a decision. If the task is completed, the customer should call completed. Then the funds are transferred to the developer on the wallet. If the execution of the customer is not satisfied, then it should call orderNotAccepted;
•   If the work is not accepted, the contract gives another 5 days;
•   If the customer has not made any decision after the expiration of the safe period of five days, the work is deemed to be performed and the funds go to the developer for the purse.

Scheme when a dispute arises:
Terms of dispute
•   The developer did not call failedByDeveloper, thus not saying that the work was not performed;
•   The customer prohibits withdrawal of funds within 5 days of the day using orderNotAccepted. The contract extends the safe period for another five days.

Terms of dispute resolution
•   The developer called failedByDeveloper. Thus, the developer agreed that the work was not performed and the funds go to the customer for the purse they came from earlier;
•   The customer called completed. Thus agreeing that the task is completed and the funds go to the purse developer;
•   The customer did not extend the disputed period until the current orderNotAccepted function terminates.