sibizulu/escrow

EscrowSale

EscrowSale is a contract which act as a third party to enable transactions between parties. When buyer wish to buy from the "seller", buyer deposits ether to contract/escrow and seller get notified about this . once buyer receives goods/service from the seller, buyer gives confirmation. once the confirmation received arbitrator transfers the ether from contract to seller.

functions

addMember(address _newadmin)

Adds new admin/assigns admin privileges to address. This function is only accessible by creator of the contract.

createEscrow(address _buyer,address _seller,address _arbitrator,uint _amount,bytes32 orderId)

Set order details. _arbitrator must be admin and orderId must be unique.

depositToEscrow(byte32 _id)

Deposit ether into contract address only by the buyer of corresponding order. And notifies the seller about the deposit by invoking the event NotifySeller(_id, orderdata[_id].amount, orderdata[_id].buyer)

buyerConfirmation(byte32 _id)

Once the service received by the seller, buyer gives the confirmation by calling the event NotifyConfirmation.

finalizeOrder(byte32 _id) Arbitrator transfers the ether from contract to seller address only the confirmation about delivery of service confirmed.

refund(bytes32 _id) In case service is not received, buyer can notify to refund only if the buyer deposited the ether into contract.

paybackToBuyer(bytes32 _id) When the refund request received, then the arbitrator paybacks the deposited ether to buyer.

depositToEscrow(byte32 _id) , 'finalizeOrder(byte32 _id)' and paybackToBuyer(bytes32 _id)' are payable' functions since we are dealing with transactions here. Depositing ether into contract and transfering ether from contract to seller or buyer.