Bitwise Escrow Agreement draft between Benson (Buyer) and Katherine (Seller) for a Bitcoin (BTC) transaction. This draft assumes the use of a neutral third-party escrow service and outlines clear obligations for all parties.
📄 Bitwise Escrow Agreement
This Escrow Agreement ("Agreement") is made and entered into on [Date], by and between:
[Full Name], ("Buyer")
[Full Name], ("Seller")
Bitwise Escrow, acting as the Escrow Agent ("Agent")
1. Purpose
The Buyer wishes to purchase, and the Seller agrees to sell, [Amount] BTC under the terms and protection of this Escrow Agreement. The Agent will hold the BTC until both parties fulfill their obligations.
2. BTC Details
Amount:
Agreed Price:
Payment Method: [e.g., Bank Transfer to Seller’s Account]
Wallet Address (Buyer): [Insert Benson’s Wallet Address]
3. Escrow Process
a. BTC Deposit
Seller shall deposit the full amount of BTC into the Escrow Agent’s designated wallet address within 30 minutes of signing this Agreement.
b. Payment by Buyer
Upon confirmation of BTC in escrow, the Buyer shall initiate full payment of [Agreed Price] to the Seller’s account:
Account Name:
Bank Name:
Account Number:
c. Confirmation of Payment
Once payment is sent, the Buyer shall notify both the Seller and Agent. The Seller must confirm receipt.
d. Release of BTC
Upon confirmation of payment, the Escrow Agent shall release the full amount of BTC to the Buyer’s provided wallet address.
4. Failure to Perform
If Buyer fails to pay, Escrow will return BTC to Seller after review.
If Seller fails to confirm payment but the Buyer provides proof, the Agent may release BTC after investigation.
5. Fees
Escrow fee will be deducted from the BTC amount or split equally between Buyer and Seller, as agreed.
6. Dispute Resolution
In case of any disputes:
Parties agree to first attempt mediation with the Escrow Agent.
If unresolved, disputes shall be settled in [Insert Jurisdiction] under applicable law.
7. Miscellaneous
This Agreement is binding upon all parties.
Parties agree not to circumvent the escrow process.
Communication must be in writing (email or platform message).
8. Signatures
Buyer
Signature: __________________________
Date: ______________________________
Seller
Signature: __________________________
Date: ______________________________
Escrow Agent (Bitwise Escrow):
Signature: __________________________
Date: ______________________________
