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  • ZENLAND DOCS
  • Getting started
    • What Is Smart Contract
    • What Is Network
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  • FUNDAMENTALS
    • Zenland Contract
      • Contractee
      • Contractor
      • Contract Name
      • Contract Details
      • Agreed Amount
      • Contract Due Date
      • Buyer Protection Time
      • Zenland Fee
      • Zenland Fee Payer
    • Contract Chat
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    • ZENF Token
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  • Contract Actions
    • What is Contract Action
    • Approve
    • Deploy
    • Transfer
    • Complete
    • Release
    • Dispute
    • Invite an Agent
    • Sync
    • Escrow user errors
  • contract states
    • What is Contract State
    • Draft State
    • Deployed State
    • Active State
    • Fulfilled State
    • Executed State
    • Disputed State
  • Smart contract types
    • Default Escrow Contract
    • Pre-Approved Contract
  • Extra
    • Tokenomics
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  1. FUNDAMENTALS
  2. Zenland Contract

Agreed Amount

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Last updated 2 years ago

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

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

A Contractee must (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 and not fiat. To avoid misunderstandings, both parties must agree on the token and while approving the contract terms.

If satisfied with the product/service received, a Contractee should 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.

Contractee
Contractor
Zenland contract
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cryptocurrency tokens
network
release