# Glossary

Name	Definition
Redeemable NFT/NFT Voucher	An implementation of a Voucher using NFT technology.
Redeemable/Voucher	A promise, giving the holder of the Voucher the right to receive a certain item or a bundle of items from the Seller, or to transfer that promise to another party. It represents a commitment by a Buyer to participate in the Exchange described by the Offer and from the Seller to fulfill the agreement described in the Offer.
Access Token	A non-fungible token (NFT) or a fungible token(s) which authorizes access to private content for the owner (off-chain, on-chain, or IRL).
Bundle	A set of items being sold together in a single Offer. When digital Twins are included with a physical item described by an Offer, they are associated with a Bundle. A single Bundle can combine multiple Twins with multiple Offers.
Buyer Funds Committed	The funds a Buyer commits to participate in an Exchange.
Buyer Payoff	The funds a Buyer may withdraw when an Exchange reaches a finalized protocol state,
Cancel a Voucher	The holder of a Voucher may cancel it, forfeiting the Offer's stated buyer cancelation penalty and being refunded the remainder of their committed funds.
Cancellation Penalty	The anount of funds defined in the Offer, that Buyer loses if they decide to Cancel a an Exchange. It's defined as a part of the Offer Price. The remainder of the price is returned to the Buyer.
Commit to an Offer	Committing to an Offer causes the protocol to escrow the Buyer's payment and issue them a Voucher.
Commitment	A Buyer’s dedicated promise to the Seller to redeem an item or a bundle from the Seller’s Offer. A Seller’s dedicated promise to the Buyer is to deliver a quality redemption. The commitment is backed up by the deposit from the Seller and the cancellation penalty included in the funds committed by the Buyer.
Conditional Commit	A Commitment to an Offer that specifies a Condition. The field of possible Buyers is narrowed to those who meet the Condition, such as holding a minimum quantity of a certain token.
Conditional Token	An access token which the Buyer must hold in order to Commit to an Offer or Redeem a Voucher. Only relevant for Offers specifying a token-gating Condition.
Contractual Agreement	An agreement that is written down in the natural language that clearly describes the terms and conditions of sale and the terms upon which the disputes will be resolved.
Dispute Mutualizer	An entity external to the protocol that “insures” escalated dispute resolution fee deposits of the exchange transaction for a small fee from the Buyer
Dispute Mutualizer Fee	The payment a Dispute Mutualizer charges every time it “insures” a protocol exchange
Dispute Resolution Fee	The funds committed to an Exchange to cover the Dispute in case it is Raised
Dispute Resolver	An entity designated by the Seller for a given Offer, to hear arguments and evidence from each party in the case of a Dispute. For a fee, the Dispute Resolver decides how funds associated with the Exchange are to be split.
Escalate Dispute	The Buyer's final recourse in the course of a Dispute, should attempts at mutual resolution fail. Both parties must accept the decision of the Offer's designated Dispute Resolver.
Escalation Response Period	Period during which DR can respond to a dispute.
Evidence Requirement	A requirement for the evidence provided by the Seller and the Buyer during the dispute resolution process.
Exchange	A process that facilitates the trade (exchange) of items for monetary value via the Boson Protocol.
Extend Resolution Period	An action a Buyer and Seller can take mutually, triggering a reset of the Resolution Period clock, thus extending the Resolution Period.
Complete Exchange	An action a Buyer or Seller can take to complete the exchange, allowing the seller deposit and the buyer payment to be withdrawn by the Seller.
Dispute Period	Period during which a buyer can raise a dispute and after which a Seller is automatically paid. Buyer optionally can complete the exchange before the period is over.
Group	A set of Offers which share a common Conditional Commit rule.
Happy Path	The flow of the Boson Protocol in which there are no disputes - all transfers and exchanges end successfully, as expected.
Inactive Period	Optionally, the Seller can set a future time as the start of the Redemption Period while still allowing Commits to the Offer prior to that time. In such a case, the time between Committing to the Offer and the beginning of the Redemption Period is called the Inactive Period.
Item	In an Offer, the thing being sold. A broad term that may represent any digital (off-chain/on-chain) or physical product or service.
Lazy Buyer	A Buyer that does not perform any on-chain actions unless it is in their interest (such as to raise a dispute, or to avoid a penalty). This is the expected behavior of most buyers.
Mutual Resolution	The process by which a Buyer and Seller resolve a dispute by mutually agreeing on a resolution, i.e., on how to split the Buyer and Seller funds committed.
Mutual Resoluiton Period	Is the period during which a buyer and seller may mutually resolve a dispute. Starts with dipuste and ends with 3 different.
Offer	Seller's intention to sell an Item or a Bundle of items on the Boson Protocol. It can be though of as an agreement proposed by a Seller and contains details such as price, buyer cancellation penalty, and seller deposit, token of exchange, etc.
Offer Metadata	Off-chain data that provides additional information about the Offer, such as Seller contact details, product descriptions, legal terms and conditions, etc.
Offer Price	The amount the Buyer must provide in order to Commit to an Offer.
Protocol Fee	An amount levied by the Protocol from the proceeds of a Happy Path Exchange.
Protocol FInal State	Any of the end states of an Exchange or a Dispute, after which participants can withdraw any funds owed them.
Protocol State	One of the states in the state machine(s) of the Boson Protocol.
Raise a Dispute	"An action a Buyer can take at any time during the Redemption Period if they are unhappy with the Exchange, have a quality or delivery complaint, or another issue they need to resolve with the Seller.
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Receipt	The record of an Exchange, its Offer, any delivered Twins, and any associated Dispute.
Redeem a Voucher	An action a Voucher holder can take that initiates the Fulfillment Period of the Exchange, and burns the Voucher.
Redemption Period	The period during which a Voucher (rNFT) can be redeemed by the Buyer.
Resolution	How the Committed funds of an Exchange are to be split in the case of a Dispute. Buyer and Seller can mutually agree to a resolution, or it can be decided by a Dispute Resolver.
Resolution Period	The time period between a Dispute being raised (or its clock reset), and some resolution being arrived at.
Resolve Dispute	Once a mutual agreement has been reached in a Dispute, the Buyer and Seller can sign a message with the details and submit it to the protocol, moving the Exchange to its Resolved state, where the parties may withdraw their funds accordingly.
Retract Dispute	An action a Buyer can take to accept the original terms of the Offer agreement after a Dispute was raised, allowing the seller to withdraw their deposit and the buyer payment.
Revoke a Voucher	An action a Seller can take after a Buyer has committed to an Offer. The Seller forfeits their deposit (revocation penalty) to the Buyer. The Buyer may withdraw their payment and the Seller deposit.
Seller Deposit (Revocation Penalty)	Funds committed by the Seller to the protocol which will be forfeited to the Buyer in the case of Voucher Revocation.
Seller Funds Committed	The funds a Seller commits to an Exchange at the Commit action.
Seller Payoff	The funds a Seller receives at the end of the Exchange or Dispute (after one of the final protocol states is reached).
Twinning/Bundling	A complex exchange involving two or more products. In the case of NFT twinning, this refers to selling of an on-chain NFT along with a physical item such as painting, sneakers, other collectibles, etc.
Void an Offer	An action a Seller can take to permanently prevent further commits to an Offer. Any existing Exchanges related to the Offer are not affected.