Two parties
Client (paying for a good or service)
Contractor (expecting to be paid)
Escrow process
The escrow process works in the following way.
Agreement: The client and contractor enter into a contractual agreement.
Invoicing & Escrow: The contractor creates and sends an invoice to the client, asking them to deposit the funds due on the invoice into the escrow smart contract.
Delivery/Fulfillment: The contractor commences work, and notifies the client when the job is done.
Payment: If the client is satisfied with the job, they release the funds to the contractor.