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To provide a sensible default policy likely to simplify the creation of Escrow transaction for the most common use-cases. It is always possible for an Escrow transaction to override part or the whole of this policy.
Concerns
How to vote on a General Escrow dispute
Precedence between the content of description vs. the extraDescription in case of ambiguity
More?
Importantly, this policy document is not concerned with the specific terms set out for a particular escrow transaction.
Comparison with v1
In the v1 escrow, there was no such policy document because the terms were set out on a case-by-case basis, for each escrow transaction. We think that it is reasonable to provide a policy baseline to facilitate the adoption of the Escrow for the most common use-cases.
Goal
To provide a sensible default policy likely to simplify the creation of Escrow transaction for the most common use-cases. It is always possible for an Escrow transaction to override part or the whole of this policy.
Concerns
Importantly, this policy document is not concerned with the specific terms set out for a particular escrow transaction.
Comparison with v1
In the v1 escrow, there was no such policy document because the terms were set out on a case-by-case basis, for each escrow transaction. We think that it is reasonable to provide a policy baseline to facilitate the adoption of the Escrow for the most common use-cases.
Examples of v1 Escrow terms
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