3 - Smart Contract Actions & Contract Completion

Overview

In this section we go through each smart contract action, these are events which may occur during your delivery. We will provide a little more detail on what happens and what you can expect should these happen.

Smart Contract Actions

Pause - Pausing a milestone

• Due to the ‘fail open’ nature of Vendor Smart contracts, payments are automatically set up to release funds 30 days after the Milestone due date. Should a milestone not be completed by the contracted milestone delivery date, the payment will be paused by Intersect admin until completion can be evidenced and the MAF is signed off.

• If a milestone delivery date is reached and a MAF has not been completed to the required standard, you will be contacted by the Delivery Assurance team to discuss the status of the milestone.

• The decision to pause a payment Milestone will be reviewed by the Intersect Leadership Team. You will be notified by the Delivery Assurance Team of any decision to Pause any milestone payments along with justification. Any justification as to why a milestone has been paused, will be attached to the smart contract dashboard as metadata.

Resume - Resuming a milestone

• Following the decision to Pause a milestone, the DA Team at Intersect will communicate the reasons for doing so and rectification actions required to resume the milestone payment.

• On completion of any rectification actions, completion of a successful milestone review and associated MAF, Intersect’s Delivery Assurance Team will recommend to resume the milestone to allow payment.

• The decision to resume a payment Milestone will be taken by the Intersect Executive Team.

  As a vendor you will be notified by the Delivery Assurance Team of any decision to resume any paused milestone payments.

• Note that pausing and resuming a milestone does not affect the milestone delivery date or payment date. Should any rectification effort go past these dates, the payment will be immediately available following the resume action.

• In the event that the Milestone cannot be resumed in its current form it may be necessary to Modify Milestone or Escalate.

Modify - Modifying a milestone

• During the contract life-cycle, it may be required to update or amend your contract. Either significant milestone date changes or acceptance criteria changes, you must submit a request to have a contract modification undertaken.

• You must send your request to the DA Team, using the template provided. However we would much prefer up front discussion and collaboration so that both parties mutually come to agreement before a final request is submitted.

• DA and Procurement will work with you to review and make changes to the contract which will be reflected in the legal contract or SOW addendum to formally record the changes.

  Before these changes can fully be taken into effect, a modify action will need to be carried out on your vendor smart contract instance, making this change transparent to the community.

• This modification action will be initiated and signed by Intersect, it will then be passed to the vendor and oversight committee to sign, this must be completed within a 36 hour period else the smart contract action needs to be resubmitted.

Disburse - Requesting a disbursement:

• There maybe situations where smart contracts and ADA payments do not meet the requirements of the project or situation, and it is required to disburse the funds in stables or fiat. This is a process which should be limited in use, as moving funds out of a smart contract severely reduces the transparency of funds thereafter.

• Should a situation arise to move funds out of a smart contract the vendor should make this request to their delivery assurance administrator, these requests will be handled by exception with the Intersect executive team.

• Rationale - To start the request the vendor should provide a rationale towards Intersect for review. Ultimately an agreed rationale should be attached to the Disburse action.

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Go to Smart Contracts

Navigate to the next stage of the process to the smart contract section to explore how treasury contracts and vendor contracts work, including permissions, actions, and on‑chain transparency.

Go To Smart Contracts

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Escalation Paths

Sometimes it is not possible to articulate issues and concerns in a predefined manner. Intersect will always signpost clear an obvious paths for escalation. Should you have any concern regards your delivery you are asked firstly to contract the delivery assurance team via email or Slack.

Off-boarding & Completion

• Once your final milestone is completed, Intersect will carry out the following due diligence checks to make sure everything is wrapped up!

• At the end of the contract, DA will conduct a final milestone review to verify that all deliverables have been met according to the contract. This includes a comprehensive review of the final evidence submitted, cross-referencing it with the legal contract and the smart contract.

• Agreement with the vendor if any unclaimed funds should be swept back to the treasury

• A chance for the vendor to provide any feedback or any outstanding questions.

• Once everything is confirmed, you will receive an email from DA confirming that the contract has been completed and no further action is required from you.

• Your access to any systems will then be closed, any communications channels etc. will be archived.

• You will also have the opportunity to provide feedback via the feedback form. DA will send you a link to this.

For more details please reach out to the Intersect operational services team at our contact page.