Smart Contracts establish a binding agreement between you and your buyer, governing the way you transact with another user on PayDocker.
As a property partner, you will receive Smart Contracts from your buyers. You can choose to accept or re-negotiate with your partners via PayDocker.
What you can do here
Once your partner sends a proposal, you will receive an email notification.
You will also see the status change to New Terms (1) in the Smart Contract setup dashboard. You can view the terms via Manage (2)
1. To accept the terms proposal, click Manage
2. At the pop-up, click Accept Proposal to finalize the agreement.
Once the smart contract has been accepted, your partner will also receive a confirmation email.
Negotiate your smart contract terms
You can choose to negotiate the terms if you disagree with the proposed terms by sending messages in the message box before accepting the proposal, as many times as you wish to.
1. Click Request Update.
2. Within the Smart Contract entry, select Connection (1), and you will be directed to the message box where you can review the message they sent.
If Sender agrees with the modifications, they can go back to the models and terms to make the adjustments. If the Sender does not have the required terms, they will need to return to the Terms page to create a new one.
4. Once done, return to the Smart Contract entry and choose the relevant section (1) and make the necessary adjustments (2). Click Next Step (3) and follow the steps until Connection section (4).
E.g, we chose Terms (1), checked the box for the new payment term (2), and clicked Next Step (3) till we reached Connection Section (4).
5. When the Sender is ready to send the updated proposal, they can send a reply (1) and/or directly click Submit (2) to confirm the edited proposal.
6. The entry status will then change back to 'Waiting Approval'.
7. Once the you recipient accepts the sender's Smart Contract Proposal, the status displayed on the Smart Contract entry will change to Accepted.