They want a Contract

[Chuck Alio]

I've agreed to a price and the company is requesting a contract for transfer before sending me a corporate check. I registered the name on godaddy. What do I need to do? This is a first.

 

[GiantDomains]

escrow. or convince them otherwise.

 

[bidawinner]

Not a problem Chuck, they are just a bit leery..cant blame them..in fact a contract spelling out you blah blah will transfer to them blah blah upon payment of blah blah.. protects you just as much as it does them..

Go into microsft office. or works what ever you have and find a contrat template..change it so it fits your need..

dont scare off your buyer.. tell them sure not a problem..JUST make sure they understand you wont make the transfer until the check clears..


I tmay take a few extra days but keep them happy !

THey may look you up again on a new product or service name ..

 

[RMF]

Just put together a contract that covers a few things like:

- What domain is being purchased
- Who is involved in the exchange (you, them)
- How the domain transfer will take place(before payment or after)
- And anything else you can think of.

If the price is high, then you might want to make an arrangement where they send you a portion of the money, then you transfer the domain to them, then they send you the rest of the money. If you do that, make sure its written correctly in the contract.

RMF

 

[insomnia]

This is how I would put it:

This is an agreement so that you gimme money in order for me to send you .com name. Name is something.com, I'm not sure, I'll have to go login to check but I'll do that later.

Sign Here, and then gimme money of $xxx value. Me smart!
__________

 

[Chuck Alio]

Thanks to all who have been kind enough to reply. The dollar amount of the exchange is $2.5k. Should I be using an escrow firm?

 

[domainduck]

I tell my customers that I am an honest duck and if I were not, I would be out of business.

I also offer Escrow.com at the buyers expense.

Ask your buyer to talk with you on the phone.

The whole contract issue is a royal pain in the duck.



quack

 

[Anthony Ng]

First off, if you are not a lawyer, never try to do it (a contract) at home; a non-business like, low-quality "contract" might put you in a disadvantage position or scare off your buyer.

$2.5k is the amount good enough to use an escrow but not a lawyer. This is EXACTLY why there are escrow services in the first place. Educate your buyer.

 

[Sportacle]

Originally posted by nameslave
First off, if you are not a lawyer, never try to do it (a contract) at home; a non-business like, low-quality "contract" might put you in a disadvantage position or scare off your buyer.

$2.5k is the amount good enough to use an escrow but not a lawyer. This is EXACTLY why there are escrow services in the first place. Educate your buyer.

Not only may it put you at a disadvantage but several contracts that I have had our legal counsel design include "Hold harmless" clauses. A circumstance may arise where your domain (although I don't know the domain specifically) may be identical to a trademark somewhere around the globe. Your buyer purchases the domain from you and suddenly the trademark owner claims rights to the domain and files a UDRP claim or uses some legal action to prevent the buyer from using the domain. The implication (without protection in the contract) is that the new registrant may come back to seek rememdy from you. This may be in terms of: 1) money back from losing the domain (if that were to happen), 2) legeal costs that were incurred to protect the domain, etc..

I think some of the attorneys on this board would expand on this issue a little more. But, I would advise using a contract created by someone who understands the implications of the language much better than you - namely an attorney.

 

[adoptabledomains]

If given the choice, I'd write the contract as the seller, instead of having the buyer write it. As previously stated they may want hold you responsible for trademark issues, previous use issues, etc. By supplying the contract you can state that the seller is selling "as is" and or that the buyer must do their own trademark or other due diligence search.

I did find this sample contract in a quick search that you could use as a model, however, state laws vary in contract and warranty issues.
Model Contract

 

[domaindude]

I think everyone who deals in domains should have a copy of "Domain Names : A Practical Guide" by Halberstam et al. Has lots of excellent legal info, plus a template sale contract.

 

[Chuck Alio]

I sent out a contract a couple of weeks ago though I've yet to receive a response. I'll have to inquire with them on it.