ESCROW AGREEMENT
This escrow agreement (“Escrow Agreement”) is made and entered into by and among
(“Purchaser”), a My Crypto Trading Space, a private membership association (“Escrow Agent”)
and (“Seller”) as of the date last signed below.
WHEREAS, the Purchaser and the Seller have entered into an agreement for the sale of Crypto currency owned by the Seller;
WHEREAS, the Seller has agreed to deposit the crypto into an escrow account held by the Escrow Agent upon receipt of the offer that has been accepted by the buyer. A properly completed and executed agreement necessary to transfer the crypto to the buyer;
WHEREAS, the Purchaser and the Seller have agreed to use My Crypto Trading Space to act as Escrow Agent; and
WHEREAS, the Escrow Agent has agreed to act in such capacity upon the terms and conditions contained herein;
NOW, THEREFORE, in consideration of the mutual premises and conditions contained herein, the Purchaser, the Seller and the Escrow Agent do hereby agree as follows:
1. Within seven (7) business days after receipt from the Seller of all crypto, properly completed and executed, necessary to effect the transfer of ownership to the Purchaser and effect the change of owner to name of the Purchaser as the owner , the Purchaser shall deliver to the Seller the sum agreed upon for the Crypto for payment to be tendered to said seller in the amount due to the seller for said crypto, and
The Escrow Agent will transfer the crypto to the Purchaser or to whomever the Seller has instructed, within three (3) business days of written acknowledgement from the Purchaser that the funds have reached the seller so that ownership of the crypto has transferred to the Purchaser minus any transfer fees collected by the block chain and a (10) dollar USD or 10.00 dollars worth of crypto for the Escrow Agent fee per transaction.
3. The Escrow Agent may act in reliance upon any writing, instrument or signature that the Escrow Agent, in good faith, believes to be genuine; and may assume any person purporting to give any notice, writing, advice, or instructions in connection with any provision herein has been duly authorized to do so.
4. The Purchaser or seller agrees to indemnify and hold harmless the Escrow Agent from any and all claims, liabilities, losses, expenses, actions, suits, or proceedings at law or in equity, or any other expense, fees, or charges of any character or nature whatever that it may incur by reason of acting as the Escrow Agent under this Escrow Agreement except for the Escrow Agent’s gross negligence, bad faith or willful misconduct.
5. If the Seller and the Purchaser disagree about the interpretation of this Escrow Agreement, about the rights and obligations of the parties, or the propriety of any action contemplated by the Escrow Agent hereunder, the Escrow Agent may file an action in a court of competent jurisdiction to resolve the disagreement.
6. The expenses and costs, if any, of the Escrow Agent for performing its obligations contained in this Escrow Agreement shall be borne by the Purchaser.
7. The Escrow Agent may resign upon three (3) days prior written notice to the parties to this Escrow Agreement if a disagreement cannot be settled by and between the Purchaser and the Seller
8. The rights created by this Escrow Agreement shall inure to the benefit of, and the obligations created hereby shall be binding upon the Escrow Agent, Purchaser and the seller and all parties to this Escrow Agreement.
9. It is hereby recognized and agreed that the Escrow Agent shall not be obligated to take any action that is not specifically set forth herein. In the event of a disagreement or dispute concerning the validity or interpretation of any condition of this Escrow Agreement, the Escrow Agent shall be empowered to submit the dispute to a court of competent jurisdiction for resolution. In such event, the Escrow Agent shall be relieved of any other and further liability under this Escrow Agreement.
10. This Escrow Agreement shall be construed and enforced in accordance with its terms and conditions of this Escrow Agreement.
IN WITNESS WHEREOF, the undersigned being all the parties to this Escrow Agreement have hereunto set their hands.