Once the Contractor (seller) completes the delivery of the product/service, the contract enters a new state. Known as the fulfilled state, it indicates the Contractor's completion of the contract terms. The initiator, in this case, is the Contractor, who requests* the contract to record terms completion.
- to check the product/service delivered by the Contractor,
The fulfilled state of a contract gives the Contractee time necessary to receive and approve the order, a.k.a. buyer protection time. If approved, the contract is ordered to pay the agreed amount of tokens to the Contractor's wallet address**. This address is specified in the contract terms when the contract is created.
The contract remains in a fulfilled state until the funds are released by either party or until it enters a disputed state.
Usually, the release action is taken by the Contractee upon the product/service approval. However, when specified conditions are met, the Contractor can release funds from the contract without the Contractee's consent.
Good to know
*All blockchain transactions, a.i. requests are processed by nodes (individual computers) and require gas fees to be paid.
**Cryptocurrency wallet is an app (web, desktop, mobile) or a physical device that stores your public and private keys. Metamask, Coinbase Wallet, and Trustwallet are among the most used crypto wallets. Each wallet has its unique ID known as a wallet address.