Summary

No timelocks for critical actions

Vulnerability Details

1. Buyer may call confirmReceipt() and realize later on they actually wanted to dispute but its too late

2. Buyer or Seller may call initiateDispute() and realize they made a mistake or actually they have changed their mind but its too late. Additionally Timelock can emit events preparing the parties that something has been triggered e.g buyer or seller or arbiter on noticing Timelock dispute initiated can know that they have to be available within x period to deal with dispute

Impact

1. Timelocks prepare the parties for action that has been taken e.g dispute initiated

2. Timelocks allow for actions to be reversible

Tools Used

Manual Analysis

Recommendations

It is recommended to have Timelocks that ensure that critical actions are only implemented after some time has passed