Company Performance Metrics
John D. Gardiner: Founder & CEOPast Role: AOL, Vice President of Business Development & Corporate Development, AOL Latin America- Mike Greenberg: Founder
Equal Foot was created to meet the needs of contracting parties to negotiate, execute, manage and enforce their contracts. The online service provides tools to create, manage and execute the life cycle of entire contracts. Equal Foot is designed to place buyers and sellers on a more equal footing, by providing them with a assurance that funds
will be properly applied only when contractual conditions are met and that disputes, if they arise, are resolved without the delay and cost-effectively. By doing so, Equal Foot minimizes contract risks for all parties involved, reducing delays in performance, misunderstandings of performance, risks of non payment, and the costs of conflict resolution.
Pretty much any contract involving remuneration can be entered into using the service, from sale of goods (products, imports/exports, etc.) to provision of services (home improvement, construction, software development, etc.). Parties can add boilerplate terms, conditions, specifications and warranties and any particulars. When both parties agree to the terms of contract, it becomes a binding contract.
Parties can then manage the contract, deliverables, performance and payments using Equal Foot's tools, with each milestone payment made by the buyer into a secure escrow account so that the seller knows it will get paid if it performs. After seller performs the milestone, the buyer will release the payment from escrow. If the parties have a dispute, it is resolved efficiently and economically through Equal Foot's dispute resolution process, administered by the American Arbitration Association.
