Private PayPal sale, protecting yourself with a Purchase Agreement

[NameCharger]

With the potential of a Buyer scamming and doing a chargeback, it seems as a Seller you don't have much recourse.

I am wondering if incorporating a Purchase Agreement into a Paypal invoice would help a Seller stand ground?

eg: Buyer and Seller agree to terms for domain sale.

Seller sends Buyer an Invoice through Paypal system.

In the Invoice, "Note:" reads:

DOMAIN NAME(S) PURCHASE AGREEMENT

DATE: Today's Date

1. BUYER AND SELLER IDENTIFICATION:
A. Buyer: Name(s), ("Buyer")
B. Seller: Name(s), ("Seller")

2. DOMAIN NAME(S) TO BE ACQUIRED:
DomainNames(dot)com ("Domain(s)")

3. PURCHASE PRICE SHALL BE:
USD One Thousand Dollars $1,000.00

4. PAYMENT METHOD: PAYPAL
A. Buyer Paypal Email Address: buyer(at)domain(dot)com (“Buyer Paypal Account”)
B. Seller Paypal Email Address: seller(at)domain(dot)com (“Seller Paypal Account”)

5. BUYER AND SELLER REGISTRAR IDENTIFICATION:
A. Buyer Registrar: BuyerRegistrar(dot)com ("Buyer Registrar")
B. Seller Registrar: SellerRegistrar(dot)com ("Seller Registrar")

6. TIME PERIODS:
A. Seller has 5 Days After Receipt of Payment to transfer Domain(s) specified in Paragraph 2 from Seller Registrar to Buyer Registrar as specified in Paragraph 5.
B. Buyer has Zero Days Inspection Period for Domain(s).

7. ALLOCATION OF COSTS:
A. Buyer to pay all renewal and transfer fees for Domain(s) to Buyer Registrar, if applicable.
B. Seller to pay all renewal and transfer fees for Domain(s) to Seller Registrar, if applicable.

8. TERMS:
A. Buyer to submit Amount specified in Paragraph 3 from Buyer Paypal Account to Seller Paypal Account as specified in Paragraph 4.
B. Seller shall, upon Receipt of Payment as specified in Paragraph 8A, transfer Domain(s) to Buyer at Buyer Registrar no later than the time specified in Paragraph 6A.

9. CONFIRMATION:
A. Seller confirms information provided in Paragraphs 1B, 2, 3, 4B, 5B, 6A, 7B, 8B to be true and is the rightful registrant of record for Domain(s) on the Date of this Agreement and will act in due diligence in the transfer of Domain(s) to Buyer with time being of the essence.
B. Buyer confirms information provided in Paragraphs 1A, 2, 3, 4A, 5A, 6B, 7A, 8A to be true and Authorizes Payment from Buyer Paypal Account to Seller Paypal Account for the Amount specified in Paragraph 2.

Your input please.

Thanks,

Fitz

 

[MadAboutDomains]

Basically, Whatever PayPal Says... goes! It's their system, Their Terms and Conditions and everyone is expected to abide by them.

The simple answer is Escrow.

 

[Dave_Z]

Or Moniker.

 

[NameCharger]

Basically, Whatever PayPal Says... goes! It's their system, Their Terms and Conditions and everyone is expected to abide by them.

That's what I thought... stand up to Paypal and they drop you with no mercy.