Code as Law: Our Transaction Framework
What is Code as Law?
At BayouBid, "Code as Law" means that our marketplace operates according to transparent, publicly verifiable code rather than ambiguous policies. This ensures that all users—whether buyers or sellers—receive equal treatment under the same set of rules.
Our Core Components
Smart Escrow System
Our escrow system automatically holds buyer funds until delivery conditions are met. This provides security for both parties:
- Funds are released only after successful delivery confirmation
- Inspection periods allow buyers to verify purchase quality
- Release conditions are configurable based on item category and value
Reputation Engine
Our reputation system uses objective metrics based on your transaction history:
- Separate ratings for buyers and sellers
- Immune to manipulation through transaction volume or value
- Transparent calculation based on delivery time, condition accuracy, and communication
Dispute Resolution Framework
When disagreements occur, our system provides:
- Rule-based initial resolution for common issues
- Structured evidence collection system
- Clear timelines for each stage of resolution
- Escalation paths for complex situations
Verification Services
Our platform integrates with reliable verification tools:
- Shipping status tracking integration
- Delivery confirmation mechanisms
- Condition documentation tools
Why This Matters
For Buyers
- Protection against misleading listings
- Secure payment handling
- Clear pathways for addressing issues
- Ability to trust seller ratings
For Sellers
- Protection against fraudulent buyers
- Reliable payment processing
- Fair dispute resolution
- Opportunity to build verifiable reputation
Our Commitments
- 100% rule transparency - All marketplace rules are publicly available
- Automatic resolution - Over 95% of standard issues resolved without human intervention
- Zero special treatment - All users receive identical treatment regardless of status
- Full audit trails - Complete transaction histories available to involved parties
- Consistent outcomes - Identical circumstances always result in identical resolutions
Implementation Timeline
Phase 1 (Current)
- Basic escrow functionality
- Simple reputation tracking
- Standard dispute handling
Phase 2 (Coming Q3 2025)
- Enhanced reputation algorithms
- Cross-platform identity verification
- Advanced dispute resolution
Future Extensions
- Community-driven rule proposals
- Integration with external trust systems
- User-customizable escrow parameters