[Certificate of Deposit Contract]

Discussion in 'Approved Contracts Archive' started by _Royal_Vulpes_, Aug 11, 2020.

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  1. _Royal_Vulpes_

    _Royal_Vulpes_ The Fox Emperor
    ECC Benefactor Builder ⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade

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    IGN:
    @_RoyalVulpes

    Users Involved in this Contract:
    @_RoyalVulpes, @kimi2QT

    General Purpose of Contract:
    The general purpose of this contract is to allow the other user involved in the contract to open a Certificate of Deposit Account with AAUB(Austro-Aurora United Bank) to earn interest on their deposit that is to held by the bank until its maturity date.

    I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3:
    I, @_RoyalVulpes, agree to allow @kimi2QT to open a Certificate of Deposit Account with AAUB in order to earn interest on their deposit of $5,000,000(5mil) at a MPY(Monthly Percentage Yield) rate of 0.15% for 24 weeks(4 weeks equals 1 month). The account will be open within 24 hours of the deposit of $5,000,000(5mil) being paid to @_Royal_Vulpes_. I agree that @kimi2QT is free to close their account with 3 days of the contract being approved and receive their initial deposit back without any penalties. When CD matures on January 27th, 2021, I will issue the amount of $5,045,000 within 24 hours of the maturity date(January 27th, 2021). Failure to open this account in the time stated above will result in this contract being null and voided. Failure to return @kimi2QT funds(with 48 hours of request) will result in a punishment deemed necessary by the ECC Staff.

    The other user(s) involved with this contract must agree to the following terms:
    @kimi2QT agrees to pay @_Royal_Vulpes_ $5,000,000(5mil) to open their Certificate of Deposit Account within 24 hours of this contract being approved. Once the contract is approved, @kimi2QT will have 3 days to close the account early without any penalties. After the 3 days, @kimi2QT will have to wait until their maturity date of January 27th, 2021 to receive the full amount of $5,045,000 (deposit and interest accrued). If at any point @kimi2QT insists on wanting to close their CD prematurely, they will forfeit all interest that had accrued and face a 10%($500,000) early withdraw fee that is subtracted from the initial deposit. Failure to pay @_RoyalVulpes within 24 hours of the contract being approved will result in the account being closed and the contract null and voided.

    I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.: Yes, I, @_RoyalVulpes, agree to the terms.
     
  2. kimi2QT

    kimi2QT Ultra kawaii weeb
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  3. a_man21

    a_man21 a_manda
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    Contract looks good, I'm going to go ahead and approve it. As always, be sure you gather the appropriate evidence for any transactions that take place for this contract.


    Locked: Contract Approved
     
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