Sell in installments without taking on default risk
An AvalDAO guarantee reserves the money for your sales in a smart contract. If your customer doesn't pay an installment, you collect it from those funds.
How it works for you
- 1
Your customer requests a guarantee
You agree on the installment sale with your customer. The applicant registers the guarantee and enters your wallet as the merchant, along with the amount and installment plan.
- 2
AvalDAO reviews and records it
If AvalDAO accepts the case, it creates the guarantee's contract on the blockchain with the installments and their dates.
- 3
You sign and funds are reserved
You review the terms and sign with your wallet, at no gas cost. Once every participant has signed, the full amount is reserved in the guarantee's contract.
- 4
You deliver and collect from your customer
You deliver the product or service and your customer pays each installment directly to you. Each installment paid is released and the money returns to the fund.
- 5
If an installment isn't paid, you claim
Once the due date has passed, you open a claim from the platform. When the guarantee is executed, you receive that installment's amount from the reserved funds.
Good to know
Two dates per installment
From the due date you can open a claim. If there is no claim by the release date, the installment is considered paid and its funds return to the guarantee fund.
You need a wallet
Signing the guarantee and opening claims is done with a wallet. Creating one is free and takes a few minutes; we recommend MetaMask.
You get paid in DOC
Guarantee funds are held in DOC (Dollar on Chain), a stablecoin of the Rootstock ecosystem.