Smart contracts are agreements with fixed terms between two companies. They are displayed in the new smart contracts page where they can be created and booked. Booking a smart contract creates a request that we call “smart request”. A smart request can be directly accepted by the supplier as the terms are fixed.
(1) Smart contracts can be created based on a previously accepted transaction or should be based on a contract that two partners already have outside of xChange
(2) Smart contracts always have fixed terms. If the user books a smart contract he can ask for a specific count of containers but cannot negotiate the terms
(3) Smart contracts can only be booked by the user of containers as he is the one who needs to have cargo at hand for the stretch
(4) Smart contracts can be directly accepted and released by the supplier
(5) Beside the specialty that the terms cannot be edited and that the smart request can be directly accepted – smart contracts behave just like normal requests!