To act as an Arbiter, a seller simply has to use your Ethereum address as the “Arbitration Provider” when listing an item. Any disputes will then fall to you for resolution, and you will have control of the escrowed funds. It is up to you to set your fees, but understand that you will be competing with other Arbiters for sellers’ business.
somebody has estimated how much an Arbiter could gain?
Arbiters will set their own fees for their service, either a fixed price or a percentage of the item's selling price. The arbiters also determine whether the fee is only charged in the case of a dispute or if it is due regardless of any use of the arbitration service.
Of what use is the arbiter, isn't it better to deal directly with seller and avoid the complications that may be involved.
The option of arbitration, in the case of a dispute between buyer and seller, will be included in The Block. A seller may optionally name an arbiter in an item listing. Payment for the item is held in an escrow contract and will be only released to the seller if both parties indicate that
they are satisfied, or if a given period of time has passed without the buyer having opened a dispute. If a dispute is opened, the designated arbiter will be granted control over the escrowed funds and must determine whether they should be returned to the buyer, transferred to the
seller, or to both in some ratio. The arbiter may request a fee for this service. Over time, some arbiters will gain a positive reputation for their impartial service and fairness.
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