Bitcoin clause: Copy, customize, and use instantly
Introduction
A Bitcoin clause sets out the terms for using Bitcoin as a payment or transactional medium in a contract. It ensures clarity on issues like valuation, wallet addresses, network fees, and compliance with regulations. This clause is crucial for agreements that involve Bitcoin, offering clear parameters and mitigating risks.
Below are templates for Bitcoin clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard Bitcoin payment clause
This variation applies to agreements allowing Bitcoin as a standard payment method.
Payments under this Agreement may be made in Bitcoin (BTC) to the wallet address specified by the receiving party. Payment shall be considered complete once the transaction receives at least [specific number] confirmations on the blockchain.
Bitcoin valuation clause
This variation applies to agreements specifying Bitcoin value determination.
The value of Bitcoin payments under this Agreement shall be based on the exchange rate published by [specific exchange, e.g., Coinbase, Binance] at the time of transaction initiation. Fluctuations in value after initiation shall not alter the agreed amount.
Bitcoin network fee clause
This variation applies to agreements addressing transaction fees.
All network fees associated with Bitcoin payments under this Agreement shall be borne by the paying party. The receiving party shall receive the full agreed-upon amount net of such fees.
Bitcoin refund clause
This variation applies to agreements involving refunds in Bitcoin.
Any refunds under this Agreement shall be issued in Bitcoin. The refund amount shall reflect the Bitcoin value at the time of the original transaction, regardless of subsequent price fluctuations.
Bitcoin compliance clause
This variation applies to agreements requiring adherence to Bitcoin regulations.
Both parties agree to comply with applicable laws and regulations governing Bitcoin transactions under this Agreement, including but not limited to anti-money laundering (AML) and know-your-customer (KYC) requirements.
Bitcoin early payment discount clause
This variation applies to agreements incentivizing early Bitcoin payments.
The paying party may receive a discount of [specific percentage] on the total payment amount if Bitcoin payments are made in full before [specific date]. The discount will be applied to subsequent invoices or refunded in Bitcoin.
Bitcoin staking clause
This variation applies to agreements involving staking Bitcoin.
A portion of the Bitcoin payment under this Agreement, equivalent to [specific percentage], shall be staked for [specific duration] to generate rewards. The rewards shall be owned by the receiving party unless otherwise agreed in writing.
Bitcoin escrow fee clause
This variation applies to agreements detailing escrow costs for Bitcoin.
Any fees associated with holding Bitcoin payments in escrow under this Agreement shall be shared equally by both parties unless otherwise specified. Fee details shall be included in the escrow agreement.
Bitcoin transaction audit clause
This variation applies to agreements requiring transaction audits.
Both parties agree to maintain detailed records of all Bitcoin transactions under this Agreement. The paying party shall provide transaction IDs and blockchain confirmations upon request for audit purposes.
Bitcoin energy-efficient transaction clause
This variation applies to agreements prioritizing energy-efficient networks.
Bitcoin payments under this Agreement must be processed on energy-efficient blockchain networks, such as those utilizing sustainable mining practices. Proof of compliance must be provided upon request.
Bitcoin escrow arbitration clause
This variation applies to agreements involving arbitration for escrow disputes.
In the event of a dispute regarding Bitcoin escrow payments under this Agreement, both parties agree to resolve the issue through arbitration. The arbitrator’s decision shall be binding and based on blockchain transaction records.
Bitcoin milestone-based adjustment clause
This variation applies to agreements linking Bitcoin payment adjustments to milestones.
Bitcoin payment amounts may be adjusted based on milestone completion. If a milestone is delayed or only partially achieved, the associated payment will be prorated accordingly and subject to mutual agreement.
Bitcoin multi-currency clause
This variation applies to agreements permitting multiple cryptocurrencies, including Bitcoin.
Payments under this Agreement may be made in Bitcoin or other approved cryptocurrencies, including [list of cryptocurrencies]. The paying party must confirm the selected currency before initiating the transaction.
Bitcoin limited refund clause
This variation applies to agreements restricting Bitcoin refunds.
Refunds of Bitcoin payments under this Agreement shall only be issued if the request is made within [specific number] days of the original transaction. Refund amounts will be calculated based on the Bitcoin value at the time of the original payment.
Bitcoin deferred payment clause
This variation applies to agreements allowing delayed Bitcoin payments.
Bitcoin payments under this Agreement may be deferred for up to [specific duration] upon prior written approval from the receiving party. Any deferred payments will incur an interest rate of [specific percentage] per annum, payable in Bitcoin.
Bitcoin recurring subscription clause
This variation applies to agreements requiring recurring Bitcoin payments.
The paying party agrees to make recurring Bitcoin payments of [specific amount] every [specific interval]. Payments will be automatically deducted from the designated wallet, and the paying party must ensure sufficient funds are available.
Bitcoin security protocol clause
This variation applies to agreements ensuring secure Bitcoin transactions.
Both parties agree to implement industry-standard security protocols for all Bitcoin transactions under this Agreement, including the use of two-factor authentication and secure wallets. Any breaches resulting from negligence will be the responsibility of the negligent party.
Bitcoin late payment penalty clause
This variation applies to agreements penalizing late Bitcoin payments.
Late Bitcoin payments under this Agreement shall incur a penalty of [specific percentage] of the payment amount per day, up to a maximum of [specific cap]. The penalty must be paid in Bitcoin along with the overdue amount.
Bitcoin no-conversion clause
This variation applies to agreements prohibiting Bitcoin-to-fiat conversion.
All Bitcoin payments under this Agreement must remain in their original form and may not be converted into fiat currency by the receiving party without prior written consent from the paying party.
Bitcoin profit-sharing clause
This variation applies to agreements involving profit-sharing in Bitcoin.
A portion of the Bitcoin payments under this Agreement, equivalent to [specific percentage], shall be allocated to a profit-sharing pool. Both parties agree to distribute or reinvest the pool as mutually decided.
Bitcoin payment freeze clause
This variation applies to agreements allowing temporary freezes on Bitcoin payments.
The paying party may request a temporary freeze on Bitcoin payments for up to [specific duration] due to unforeseen circumstances. The freeze must be approved in writing by the receiving party, and payments will resume upon resolution of the issue.
Bitcoin scheduled batch payment clause
This variation applies to agreements involving batch Bitcoin payments.
Bitcoin payments under this Agreement shall be processed in batches every [specific interval]. Each batch must include transaction details for reconciliation purposes and confirmation by the receiving party.
Bitcoin capped liability clause
This variation applies to agreements limiting liability for Bitcoin-related issues.
The liability for losses or disputes related to Bitcoin payments under this Agreement shall be capped at [specific amount or percentage] of the transaction value. Both parties agree to resolve disputes using blockchain transaction data.
Bitcoin compliance reporting clause
This variation applies to agreements requiring periodic compliance updates.
Both parties agree to submit compliance reports related to Bitcoin transactions under this Agreement every [specific interval]. Reports must include transaction records, tax documentation, and regulatory compliance details.
Bitcoin fractional payment clause
This variation applies to agreements allowing partial Bitcoin payments.
Payments under this Agreement may be made in fractional Bitcoin amounts, provided that the total payment is settled within the specified time frame. Each fractional payment must be confirmed on the blockchain to be valid.
Bitcoin advance payment clause
This variation applies to agreements requiring Bitcoin advance payments.
The paying party shall remit an advance payment of [specific amount] in Bitcoin upon signing this Agreement. The advance will be deducted from the total payment due, and it is non-refundable unless otherwise agreed in writing.
Bitcoin escrow milestone clause
This variation applies to agreements linking Bitcoin escrow releases to milestones.
Bitcoin payments deposited in escrow under this Agreement shall be released incrementally upon achieving specific milestones. The release must be jointly approved by both parties and the escrow agent.
Bitcoin early termination clause
This variation applies to agreements addressing Bitcoin payments upon early termination.
In the event of early termination of this Agreement, any unused Bitcoin payments will be refunded based on the exchange rate at the time of the original transaction. Refunds must be processed within [specific number] days.
Bitcoin transaction ID requirement clause
This variation applies to agreements requiring transaction documentation.
The paying party must provide the receiving party with the transaction ID and confirmation details for all Bitcoin payments under this Agreement. Failure to do so may result in delays in payment acknowledgment.
Bitcoin trustless transaction clause
This variation applies to agreements utilizing trustless protocols.
Bitcoin payments under this Agreement shall be conducted using trustless protocols, such as smart contracts, to ensure automatic execution and compliance with agreed terms. Both parties agree to review the smart contract before deployment.
Bitcoin capped refund clause
This variation applies to agreements limiting refund amounts.
Refunds for Bitcoin payments under this Agreement shall not exceed [specific percentage] of the total payment value. Refunds will be calculated based on the Bitcoin value at the time of the original transaction.
Bitcoin fee reimbursement clause
This variation applies to agreements reimbursing Bitcoin transaction fees.
The receiving party agrees to reimburse the paying party for any network fees exceeding [specific amount] incurred during Bitcoin payments under this Agreement. Reimbursements must be completed within [specific number] days of the request.
Bitcoin multi-party payment clause
This variation applies to agreements involving multiple paying parties.
Bitcoin payments under this Agreement may be made collectively by multiple paying parties. Each party’s contribution must be documented and confirmed by the receiving party to avoid disputes.
Bitcoin holding period clause
This variation applies to agreements requiring a holding period for Bitcoin.
Bitcoin payments under this Agreement shall be held in a designated wallet for a minimum of [specific number] days before conversion or further transfer. This holding period ensures transaction integrity and compliance checks.
Bitcoin automated conversion clause
This variation applies to agreements automating Bitcoin-to-fiat conversions.
All Bitcoin payments under this Agreement shall be automatically converted to fiat currency upon receipt using the exchange rate provided by [specific platform]. Conversion details must be included in the payment receipt.
Bitcoin exclusive payment clause
This variation applies to agreements requiring Bitcoin as the sole payment method.
Payments under this Agreement shall be made exclusively in Bitcoin. The paying party must ensure sufficient Bitcoin balance to fulfill payment obligations, and no alternative payment methods will be accepted.
Bitcoin network selection clause
This variation applies to agreements specifying Bitcoin networks.
Bitcoin payments under this Agreement must be conducted on the [specific Bitcoin network]. Transactions conducted on unapproved networks will be considered invalid and must be reprocessed.
Bitcoin clawback clause
This variation applies to agreements allowing the recovery of Bitcoin payments.
The receiving party reserves the right to initiate a clawback for Bitcoin payments made in error or under fraudulent circumstances. Clawbacks will be processed within [specific number] days of identifying the error.
Bitcoin inflation hedge clause
This variation applies to agreements linking payments to inflation protection.
Bitcoin payments under this Agreement shall include an inflation adjustment mechanism, with additional payments required if the fiat equivalent value drops below [specific amount]. Adjustments will be reviewed annually.
Bitcoin penalty waiver clause
This variation applies to agreements waiving penalties under specific conditions.
Penalties for late Bitcoin payments may be waived if the paying party provides verifiable evidence of extenuating circumstances, such as network congestion or regulatory delays. Waivers must be documented in writing.
Bitcoin compliance audit clause
This variation applies to agreements requiring compliance audits.
Both parties agree to undergo annual compliance audits to ensure that Bitcoin transactions under this Agreement meet applicable legal and regulatory standards. Audit reports must be shared within [specific number] days of completion.
Bitcoin arbitration clause
This variation applies to agreements involving arbitration for Bitcoin disputes.
Any disputes related to Bitcoin payments under this Agreement shall be resolved through arbitration. The arbitration process will use blockchain transaction records as primary evidence, and the arbitrator’s decision shall be binding.
Bitcoin cross-border payment clause
This variation applies to agreements involving international Bitcoin transactions.
Bitcoin payments under this Agreement may be made across borders, provided the paying party complies with all relevant international and local regulations. Both parties agree to share responsibility for any additional transaction costs incurred.
Bitcoin dynamic pricing clause
This variation applies to agreements with payments tied to real-time Bitcoin values.
Payments under this Agreement shall be made in Bitcoin, with the amount calculated based on the real-time exchange rate published by [specific platform] at the time of payment. Both parties must confirm the rate before the transaction.
Bitcoin escrow release timeline clause
This variation applies to agreements specifying timelines for escrow releases.
Bitcoin payments held in escrow under this Agreement shall be released to the receiving party within [specific number] days of completing the conditions outlined in [specific section]. Delays in release must be justified in writing.
Bitcoin wallet exclusivity clause
This variation applies to agreements requiring a specific wallet type.
Bitcoin transactions under this Agreement must be conducted using wallets compatible with [specific protocol or platform]. Payments made from incompatible wallets may be rejected or delayed.
Bitcoin transaction batching clause
This variation applies to agreements allowing transaction batching.
Bitcoin payments under this Agreement may be batched into a single transaction to minimize network fees. The details of each payment within the batch must be documented and communicated to the receiving party.
Bitcoin no-penalty early payment clause
This variation applies to agreements incentivizing early Bitcoin payments.
The paying party may remit Bitcoin payments earlier than the due date without incurring penalties. Early payments will be credited to future obligations or refunded in Bitcoin if no further payments are due.
Bitcoin privacy clause
This variation applies to agreements emphasizing privacy in Bitcoin transactions.
Both parties agree to prioritize privacy for Bitcoin transactions under this Agreement, including using privacy-focused wallets or mixing services. Neither party shall disclose transaction details without mutual consent.
Bitcoin timed-release payment clause
This variation applies to agreements automating delayed payments.
Bitcoin payments under this Agreement may be scheduled for timed release via smart contracts. Payments will be automatically processed on the agreed-upon date, provided all conditions are met.
Bitcoin shared liability clause
This variation applies to agreements sharing risks in Bitcoin transactions.
Both parties agree to share liability for losses arising from Bitcoin transactions under this Agreement, including those caused by market volatility or network errors. Shared liability terms are detailed in [specific section].
Bitcoin exchange rate dispute clause
This variation applies to agreements resolving exchange rate conflicts.
Any disputes related to the Bitcoin exchange rate under this Agreement shall be resolved using the average rate from [specific platforms] on the date of payment. Both parties must provide proof of rate discrepancies.
Bitcoin late fee cap clause
This variation applies to agreements capping late payment fees.
Late Bitcoin payments under this Agreement shall incur a fee of [specific percentage] of the payment amount, capped at a maximum of [specific amount]. Late fees must be settled in Bitcoin.
Bitcoin payment authorization clause
This variation applies to agreements requiring prior payment approval.
All Bitcoin payments under this Agreement must be authorized in writing by the receiving party. Unauthorized payments may be returned or held until proper authorization is obtained.
Bitcoin disaster recovery clause
This variation applies to agreements addressing unforeseen disruptions.
In the event of a disaster affecting Bitcoin transactions, such as a network failure or regulatory ban, payments under this Agreement shall be paused. Both parties agree to renegotiate payment terms within [specific number] days of the event.
Bitcoin escrow dispute resolution clause
This variation applies to agreements resolving escrow disputes.
Disputes related to Bitcoin escrow payments under this Agreement shall be resolved through mediation or arbitration, with the escrow agent providing transaction records to aid in resolution. Both parties agree to abide by the outcome.
Bitcoin payment schedule revision clause
This variation applies to agreements allowing schedule changes.
The Bitcoin payment schedule under this Agreement may be revised with mutual written consent. Revised schedules must include updated due dates and amounts, ensuring both parties agree to the changes.
Bitcoin minimum wallet balance clause
This variation applies to agreements requiring sufficient wallet balances.
The paying party must maintain a minimum wallet balance of [specific amount] in Bitcoin to ensure timely payments under this Agreement. Insufficient balances causing delays will result in penalties as outlined in [specific section].
Bitcoin regulatory reporting clause
This variation applies to agreements requiring regulatory compliance.
Both parties agree to report Bitcoin transactions under this Agreement to the relevant regulatory authorities. The paying party must provide transaction details to facilitate accurate reporting and compliance.
Bitcoin security breach clause
This variation applies to agreements addressing security breaches.
In the event of a Bitcoin wallet security breach affecting payments under this Agreement, the affected party must notify the other party immediately and take corrective action. Payment obligations will be paused until the breach is resolved.
Bitcoin transaction cap clause
This variation applies to agreements capping transaction amounts.
Bitcoin payments under this Agreement shall not exceed [specific amount] per transaction. Payments exceeding this cap must be split into multiple transactions or use an alternative method.
Bitcoin refund time limit clause
This variation applies to agreements limiting refund windows.
Refunds for Bitcoin payments under this Agreement must be requested within [specific number] days of the transaction. Refunds will be issued in Bitcoin at the value determined at the time of the original payment.
Bitcoin escrow penalty clause
This variation applies to agreements penalizing delays in escrow release.
If Bitcoin payments held in escrow under this Agreement are not released within [specific number] days after fulfilling the required conditions, a penalty of [specific percentage] shall be applied to the escrow agent. The penalty will be deducted from the escrow funds.
Bitcoin blockchain confirmation clause
This variation applies to agreements requiring a specific number of blockchain confirmations.
Bitcoin payments under this Agreement shall only be considered valid after receiving [specific number] confirmations on the blockchain. Transactions not meeting this criterion will require reprocessing.
Bitcoin loss-sharing clause
This variation applies to agreements dividing responsibility for Bitcoin losses.
Both parties agree to share equally any losses arising from Bitcoin transaction errors, such as lost funds due to incorrect wallet addresses or network malfunctions. The shared liability shall not exceed [specific amount].
Bitcoin fixed exchange rate clause
This variation applies to agreements using a pre-determined exchange rate.
The Bitcoin exchange rate for payments under this Agreement shall be fixed at [specific rate] as agreed by both parties at the time of contract execution. Any fluctuations after this date will not affect payment amounts.
Bitcoin withdrawal restriction clause
This variation applies to agreements restricting fund withdrawals.
Bitcoin payments under this Agreement shall remain in the receiving party's wallet and may not be withdrawn or transferred for [specific duration] following receipt. This restriction ensures compliance with applicable terms and conditions.
Bitcoin incremental payment clause
This variation applies to agreements allowing stepwise Bitcoin payments.
Payments under this Agreement shall be made in increments of [specific amount] in Bitcoin. Each incremental payment must be confirmed on the blockchain before the next payment is initiated.
Bitcoin temporary suspension clause
This variation applies to agreements allowing payment pauses.
Bitcoin payments under this Agreement may be temporarily suspended by either party in the event of unforeseen circumstances, such as network disruptions or regulatory changes. Payments will resume once the issue is resolved.
Bitcoin surplus refund clause
This variation applies to agreements requiring refunds for overpayments.
Any Bitcoin payments exceeding the agreed amount under this Agreement shall be refunded to the paying party within [specific number] days. The refund will be calculated based on the exchange rate at the time of the overpayment.
Bitcoin penalty clause for missed confirmations
This variation applies to agreements penalizing delays in blockchain confirmations.
If Bitcoin transactions fail to achieve the required [specific number] confirmations on the blockchain within [specific time frame], a penalty of [specific amount] will apply. The penalty must be paid in Bitcoin.
Bitcoin wallet monitoring clause
This variation applies to agreements involving wallet activity oversight.
Both parties agree to enable transaction monitoring on their Bitcoin wallets used under this Agreement. Monitoring data will be shared upon request to verify payment accuracy and compliance.
Bitcoin alternative dispute resolution clause
This variation applies to agreements involving non-traditional dispute resolution.
Disputes related to Bitcoin payments under this Agreement shall be resolved through blockchain-based arbitration platforms. The decision rendered by the arbitrator will be binding on both parties.
Bitcoin prepaid balance clause
This variation applies to agreements requiring preloaded Bitcoin balances.
The paying party must maintain a prepaid Bitcoin balance of at least [specific amount] in a designated wallet to ensure timely payments under this Agreement. The balance will be reviewed monthly.
Bitcoin installment penalty clause
This variation applies to agreements penalizing missed installment payments.
If the paying party fails to make an installment payment in Bitcoin by the due date, a penalty of [specific percentage] of the missed payment amount will apply. The penalty must be settled in Bitcoin within [specific number] days.
Bitcoin price volatility waiver clause
This variation applies to agreements waiving liability for value changes.
Both parties agree to waive claims for losses or gains resulting from Bitcoin price volatility during transactions under this Agreement. Payments will be calculated based on the value at the time of transaction initiation.
Bitcoin cross-platform compatibility clause
This variation applies to agreements requiring compatibility with multiple platforms.
Bitcoin payments under this Agreement must be compatible with wallets and platforms used by both parties. Any compatibility issues must be resolved before initiating transactions, and costs will be shared equally.
Bitcoin insurance clause
This variation applies to agreements requiring insurance for Bitcoin transactions.
Both parties agree to insure Bitcoin payments under this Agreement against loss, theft, or fraud. Insurance premiums will be shared equally, and claims will be processed in accordance with the insurance policy.
Bitcoin threshold payment clause
This variation applies to agreements setting minimum transaction thresholds.
Bitcoin payments under this Agreement must meet a minimum threshold of [specific amount]. Transactions below this threshold will be rejected unless bundled with additional payments.
Bitcoin shared escrow fee clause
This variation applies to agreements dividing escrow costs.
The costs associated with holding Bitcoin payments in escrow under this Agreement shall be shared equally by both parties. Each party's share of the fee will be deducted proportionally from the escrowed funds.
Bitcoin scheduled release clause
This variation applies to agreements requiring timed payment releases.
Bitcoin payments under this Agreement shall be released on a fixed schedule, with [specific amount] released every [specific interval]. Any deviations from this schedule must be approved in writing by both parties.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.