Exchanging contracts - idle curiosity

[AlexaAmbidextra]

I exchanged contracts for a house sale last week. My solicitor phoned to say we had exchanged and it got me thinking. Obviously she did this via a phone call to the buyers solicitor so is there a set form of words that are used? A bit like a pilot and co-pilot - “I have control, you have control” type of thing to ensure no misunderstandings or is it just a casual exchange more like “hi, it’s Charlotte at Piggle, Wiggle and Thump. Shall we exchange then? Ok, we’re done”. I’m curious now.

Usually by email.

The latter. By phone in my experience but I didn't do resi.

There's a few standard words, normally 'formula b at x time' but that's over the phone.

Residential conveyancing. One of the two will read out the front page terms to make sure they both match ( names property address and title number or root of title tenure and title guarantee) price deposit date for completion and any changes to standard conditions. When confirmed all matches date contract record time and the exchange formula A B or C ( depending on whether each holds their own contract or one holds both and whether there has been a release of the contract for a related transaction on a chain)

Thanks amiw. That’s just what I wanted to know.