Escrow agreement Sample for selling domains
Below is a draft for a Domain Name Escrow Agreement for the sale of Exampledomain.com. Please customize it further with your specific details or consult a legal professional to ensure compliance with applicable laws.
DOMAIN NAME ESCROW AGREEMENT
This Domain Name Escrow Agreement (“Agreement”) is entered into as of [DATE] by and between:
- [Seller’s Full Name], with an address at [Seller’s Address] (“Seller”); and
- [Buyer’s Full Name], with an address at [Buyer’s Address] (“Buyer”).
Escrow services shall be provided by Escrow.com, whose principal office is located in the state of California, USA (“Escrow Agent”).
1. DEFINITIONS
1.1 Domain Name: The domain name subject to this Agreement is Exampledomain.com.
1.2 Purchase Price: The total purchase price for the Domain Name is USD $…..
1.3 Escrow Fee: All escrow fees and related costs shall be borne solely by the Seller/Buyer/Split
2. TERMS AND CONDITIONS
2.1 Escrow Process:
(a) The Seller shall initiate the escrow transaction with Escrow.com.
(b) The Buyer shall deposit the full Purchase Price into Escrow Agent’s account. (note. This is simple buy now with full payment process. If there is installment process then mention here the number of installments and terms)
(c) Upon confirmation of funds, the Seller will transfer ownership of the Domain Name to the Buyer. (note. This is simple buy now with full payment process. If there is installment process then domain ownership changes only after the last installment. Until the the buyer pays all installments the domain but it will be kept with escrow and when the buyer defaults the domain goes the seller)
2.2 Domain Transfer:
(a) The Seller shall provide authorization codes, registrar transfer instructions, and any other required documentation to facilitate the transfer of Exampledomain.com to the Buyer.
(b) The Buyer shall confirm receipt and ownership of the Domain Name through Escrow.com’s platform.
2.3 Completion:
(a) Upon the Buyer’s confirmation of the successful transfer of the Domain Name, the Escrow Agent shall release the funds to the Seller.
(b) The transaction will be deemed complete once both parties have fulfilled their respective obligations.
3. REPRESENTATIONS AND WARRANTIES
3.1 Seller’s Representations:
The Seller represents and warrants that:
(a) They are the sole owner of Exampledomain.com and have full authority to sell the Domain Name.
(b) The Domain Name is free from any liens, claims, or encumbrances.
3.2 Buyer’s Representations:
The Buyer represents and warrants that they have the financial capacity to pay the Purchase Price in full or on agreed terms of installment and will comply with all terms of this Agreement.
4. ESCROW AGENT RESPONSIBILITIES
Escrow Agent shall act as a neutral third party to facilitate the transaction. Escrow Agent shall not be liable for disputes between the parties except as explicitly stated in Escrow.com’s terms of service.
5. DISPUTE RESOLUTION
Any disputes arising from this Agreement shall be resolved in accordance with Escrow.com’s dispute resolution process under the laws of the state of California.
6. GOVERNING LAW AND JURISDICTION
This Agreement shall be governed by, and construed in accordance with, the laws of the state of California, USA. The exclusive venue for any legal actions shall be in California courts.
7. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties concerning the sale and transfer of the Domain Name and supersedes all prior agreements or understandings.
8. SIGNATURES
By signing below, the parties agree to the terms of this Agreement.
SELLER
Name: [Seller’s Full Name]
Signature: ___________________________
Date: _______________________________
BUYER
Name: [Buyer’s Full Name]
Signature: ___________________________
Date: _______________________________
Disclaimer:
This sample agreement is provided for informational purposes only and does not constitute legal advice. Parties are advised to consult with a qualified attorney to ensure the agreement complies with applicable laws and meets their specific needs. The provider of this sample disclaims any liability for its use without proper legal review.