Agreed Amount

Agreed amount is the amount of money that the Contractee (buyer) pays to the Contractor (seller).

This payment is decided by a Contractor and a Contractee, and along with all other details of the Zenland contract must be approved by both sides.

A Contractee must transfer (pay) the agreed amount into the contract to activate it before a Contractor proceeds with the order.

Important!

Because the contract is stored on the blockchain, it can only hold the payment in cryptocurrency tokens and not fiat. To avoid misunderstandings, both parties must agree on the token and network while approving the contract terms.

If satisfied with the product/service received, a Contractee should release the funds to a Contractor.

The amount is added to a Contractor's cryptocurrency wallet* specified in the "Contractor (seller)'' field of the New Contract form.

Good to know

*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.