This explains the use of cB contracts when shopping online.
A contract is an agreement between the parties to a deal.
The participants in the deal are designated as: “seller” and “buyer”.
The seller is a participant in the deal who transfers his property to another participant, after his: contract, subject of the contract, payment amount and public wallet of the recipient of payment were published on the pages of cB.
The buyer is a participant in the deal who reserves stablecoins ( USDT, USDC, DAI ) on the coinBusiness public wallet, and then confirms the payment or demands the return of his stablecoins, back, to his public wallet.
The property that is the subject of the deal is referred to as the “goods”. The participants in the deal are represented in the contract in the form of public wallets from the blockchain, and financial settlements between the participants take place on an open public blockchain. Popular digital currencies (stablecoins) USDT, USDC, DAI, Binance Dollar — BUSD, Pax Dollar, Pax Gold — PAXG are used as a currency.
Obligations and responsibilities of the parties.
The seller and the buyer, when creating a contract, have obligations to each other.
The seller is obliged to inform the buyer of all details about the product, including all its shortcomings, before the buyer reserves the payment on the coinBusiness public wallet.
When the buyer reserves the payment on the coinBusiness public wallet, the seller sends the item to the buyer’s address and the buyer tracks it and prepares to receive it.
After the arrival of the goods in the city or village of the buyer, the buyer is obliged to do everything possible to receive the ordered goods in a timely manner.
Until the funds are transfer to the seller’s wallet, the goods sent to the buyer are the property of the seller.
If the buyer damaged the goods and refused to purchase, then the damage caused to the goods through the fault of the buyer can be compensated from the buyer’s funds reserved on the cB wallet.
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