💸Approve Payout

How to approve a completed deal, forward the payment, and release all collateral

After one party has requested payout on the deal, the other person can close the deal by approving the payout. Only when both parties agree is a deal paid out and collateral returned to both parties.

Find the deal in Alright and you will see it in a pending state awaiting your approval.

A locked Alright deal for which the other party has proposed a payout will provide a button to approve that the deal be paid out from the escrow account.

Signing and Sending the Payout Approval

If you are happy that the deal was fulfilled, click Approve to complete the deal and have payment and collateral deposits paid out.

Sign the transaction with your connected wallet.

An example transaction approving a deal payout. This is how it appears in Pera Wallet.

Note that the fee is 5x the minimum network transaction fee. This is because the fees cover four transactions from the smart contract to pay out the deposited payment and/or any split payment/refund as well as returning collateral to both parties.

Once complete, the app will forward the payment and return the collateral to both of you simultaneously.

The deal is done!