Terms-Only Agreements
A terms-only agreement is a signed on-chain record of agreed terms — no funds involved. All parties sign, creating a permanent, tamper-proof attestation on the blockchain.
When to use terms-only
- Scope agreements — define what work will be done before any money changes hands
- Partnership terms — co-founders agree on roles, responsibilities, and equity splits
- Vendor agreements — formalize terms where payment flows through a separate channel
- Community commitments — DAO members commit to governance rules or working group responsibilities
- NDAs and IP agreements — record who agreed to what, and when
How it differs from escrow
| Escrow | Terms-only | |
|---|---|---|
| Funds | USDC held in smart contract | No funds involved |
| Purpose | Guarantee payment on delivery | Record of agreed terms |
| Approval | Triggers fund release | Records signature on-chain |
| Threshold | N-of-M approvals to release | All parties sign to complete |
| Cost | Plan covers creation (Pricing) + network fees | Plan covers creation (Pricing) + network fees |
Your plan covers agreement creation (see Pricing for details). Network fees are small charges paid to the blockchain — usually under $0.05 on Base. In test mode (Sepolia), there are no real costs.
How to create one
- Sign in and click New Agreement
- Select Terms (instead of Escrow)
- Fill in the title and description — write the terms you want all parties to agree to
- Add the wallet addresses of all parties who need to sign
- Set a deadline (optional) — if not all parties sign by this date, the agreement expires
- Review and create — one wallet transaction to publish
How signing works
Each party receives the agreement link, reviews the terms, and clicks Sign. Their wallet confirms a single transaction recording their signature on-chain.
Once all parties have signed, the agreement status changes to Completed — a permanent record that everyone agreed to these terms at a specific time.
On-chain proof
Every signature is recorded on the blockchain. This means:
- Immutable — nobody can alter the terms after signing
- Timestamped — the exact time each party signed is publicly verifiable
- Independent — the record exists on-chain even if MyPact goes offline
Click View on Basescan (or Etherscan for Sepolia) to verify any agreement independently.
Combine both types: Use a terms-only agreement to lock in scope and deliverables, then create an escrow agreement for the payment. This gives you a clear paper trail for both the commitment and the transaction.