We demonstrate a transformation of Yao’s protocol for secure two-party computation to a fair protocol in which neither party gains any substantial advantage by terminating the protocol prematurely. The transformation adds additional steps before and after the execution of the original protocol, but does not change it otherwise, and does not use a trusted third party. It is based on the use of gradual release timed commitments, which are a new variant of timed commitments, and on a novel use of blind signatures for verifying that the committed values are correct.