How Escrow Works on Boss Tag
Smart Contract Escrow
When a buyer and seller agree on a marketplace transaction, the payment and token are both locked in a smart contract escrow. Neither party can withdraw unilaterally — the contract enforces the agreed terms. This eliminates the trust problem inherent in peer-to-peer transactions: the buyer knows their funds are safe until they confirm receipt, and the seller knows the funds exist and will be released upon delivery confirmation.
Sector-Adaptive Timelines
Different asset types require different inspection windows. Collectibles (watches, handbags, sneakers) have a 3-day inspection window — enough time to verify authenticity upon receipt. Automotive transactions get 7 days for mechanical inspection. Real estate closings allow 14-30 days for title search, inspection, and financing contingencies. Energy and industrial equipment get 10-14 days for operational verification. These timelines are set automatically based on the asset's sector and can be extended by mutual agreement.
Dispute Resolution
If a buyer disputes the transaction during the inspection window — claiming the item doesn't match the listing, is counterfeit, or is damaged — the escrow enters a dispute state. Both parties submit evidence (photos, documents, communications). Boss Tag's dispute team reviews the evidence and makes a determination within 5 business days. If the dispute is resolved in the buyer's favor, funds are returned. If resolved in the seller's favor, funds are released. All dispute outcomes are final and recorded on-chain.
Cancellation Policies
Before the seller ships or transfers the asset, either party can cancel with no penalty. After shipment, the buyer can only cancel through the dispute process. After the inspection window closes without a dispute, the escrow automatically releases funds to the seller. These rules are encoded in the smart contract — neither Boss Tag nor either party can override the timeline without mutual consent.
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