Would you sign this legal document? (I'm the 'seller' of a domain)

[zimok]

Hello Guys,

I'm in talks to sell one of my domains from a portfolio of .co domains. I live in east coast Canada and the buyer is a USA/Japanese citizen.

My main concern is that this is binding me to California state laws, which for me would be really impossible for me to defend against were legal action to be taken(frivolous or not). If we agree on a sale, I have full intention of following through so I'm not worried about my side(unless something catastrophic happens that I get hacked or something). The buyer insists that this is necessary for him and his team to follow through.

So my questions are really,

Would you sign this document if you were selling the domain?

Would you advise on any changes or amendments to the document to protect myself?

Thank you for any and all advice.

 

[Skyebug77]

It is pretty common for companies to seek dispute resolution in their areas (state, county or country). Of course your not obligated to sign it, but Im sure if you dont they wont accept your business.

P.S. If you read the terms of service of almost any site selling something it states where and how dispute resolution will be in.

 

[Brandon]

Seems ok to me. At first I questioned why he'd want to do an agreement, but then after reading it I realized that he is going to make payments on it for some time until its paid off, at which point you will transfer the domain. If I were buying something in this manner, I'd probably want an agreement like this as well.

 

[daseoman]

Use an escrow service that provides monthly installment payments like Escrow.com if you don't feel safe.. But from reading it, it looks ok to me because you will only transfer the domain after the full price is paid, but I am not attorney so do your own due diligence..

 

[HostZealot]

This Agreement is his plan B if you decide to cancel the sell. If you do not do it - you are at absolutely no trouble.

However, I would advise increasing the period of domain transfer to a week, as it sometimes takes up to 5 days for Registrar system to release the domain. Or you can contact your Registrar beforehand to know if they can transfer the domain manually and how long it will take.

Also make sure your domain email is valid and click transfer approval link as soon as you receive it, because 5-days-long automatic transfer begins only after you do that. Too many transfers fail because owners do not know that THEY should approve the transfer, not their Registrar or anyone else.