How Business Escrow works: deal rooms between companies, step by step

Business Escrow is for a deal you already have with another company, usually in another country: a supplier that ships, a buyer that pays, and neither wanting to go first. Everything happens inside a private room that only the two parties (and the arbiter, if there is one) can see. Nothing is listed on the Marketplace.

The five steps of a deal

1. 1Terms. Whoever opens the room chooses their role (buyer or seller), names the deal and describes it. Then the amount, the crypto and the network, how the release works (a single release, or milestones with a percentage each), the release conditions in plain words, who pays the fee (buyer, seller or split) and whether an arbiter is present from the start.
2. 2Invitation. The counterparty is invited by their iEscrow username or by email. The room gets a reference code (OTC-XXXXXX) that identifies it from then on. They accept, decline, or request changes: the creator edits the terms and the other side reviews the new version. Nothing can be funded until both have accepted the same terms.
3. 3Funding. The buyer funds the whole amount once, from their iEscrow balance or by sending crypto to the room's own address. The room shows both sides when it is funded.
4. 4Delivery. The seller ships or delivers the work. Documents (images or PDF: invoices, bills of lading, photos) are uploaded inside the room and only its participants can open them. The chat is also inside the room.
5. 5Release. The buyer approves the release; the approval asks for an email code and the 2FA code, tied to that room and that amount. With milestones, each one is released on its own when it is confirmed. The crypto goes to the seller's iEscrow balance.

The arbiter

• On dispute (default): no one else is in the room unless one side opens a dispute. Then an iEscrow arbiter reads the terms, the documents and the chat, and decides with a written reason.
• Dedicated: an arbiter is assigned when the room is configured and follows the whole deal. It adds 0.25% to the fee. Worth it for a first deal with a new supplier or a large amount.
• A disputed milestone is decided on its own; the others continue. A milestone that is refunded goes back to the buyer; one that is released goes to the seller. The room's history shows which was which.

Fees

The tier is set once, when the room is configured, on the amount in USD at that moment. The room shows the exact fee before anyone accepts. Who pays it is part of the terms.

What stays the same as any escrow

• iEscrow holds the crypto until the conditions are met. It is custodial, and it says so.
• Once both sides accepted the terms, nobody cancels on their own. Changes go through "request changes", not through the chat.
• The release is against the conditions written in the room, not against anyone's mood. If the two sides disagree, the arbiter decides on the evidence.