[Contract] $600,000 Investment

Discussion in 'Approved Contracts Archive' started by Obblebobble, Jan 19, 2016.

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  1. Obblebobble

    Obblebobble Vault of ECC - Founder
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    @obblebobble

    Users Involved in this Contract:
    @7amoodw

    General Purpose of Contract:
    Investing $600,000 into the Vault of ECC (@7amoodw investing with @obblebobble)

    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 agree to the following terms:
    - Agree to pay out 40% of all profit generated with the invested money. This will mainly be sourced from interest rates. @7amoodw will have this profit noted down and can be withdraw at any time, with a 24 hour grace period.
    - Agree to have the full deposit/investment amount available within 7 days after a withdraw is requested AND after the 2 month locked period IF no loans are currently active and using this money.
    - Agree to inform @7amoodw of all payments made with the money and be 100% truthful to the best of my knowledge about what I am doing with it, and how much profit I make so I can give @7amoodw a fair 40% portion. This will be done via the Google Sheets spreadsheet, occasionally updates will be posted on the Vault of ECC forum thread and sent via PM.
    - Agree that in the case of me being scammed out of the investment that I will still return 100% of the deposit out of my own funding. This gives @7amoodw essentially a risk-free investment.


    The other user(s) involved with this contract must agree to the following terms:
    @7amoodw agrees to the following terms:
    - He must send a total of $600,000 ECD to @obblebobble within 24 hours of this contract being approved.
    - Agrees to not file a complaint or request the initial deposit back for a total of 2 (two) months, making the funds 'unlock" on the 19th of March 2016.
    - Agrees that if he is inactive for more than 2 months at a time then the funds will be forfeited to @obblebobble along with any unpaid interest.
    - Agrees that @7amoodw is not guaranteed to make a profit on the deposit
    - Agrees to allow a 7 day grace period upon requesting the funds to be withdrawn (after the unlock date). This allows @obblebobble to gather the full deposit amount and interest. Assuming no loans are currently active with the money.
    - Agrees that @7amoodw will only receive interest on loans that his money actively contributes towards. Loans sourced via other funding methods will not count towards his ROI (return on investment).
    - Agrees that if a loan is scammed, we are unable to pay interest and the funds will be locked but still available after the unlock date of 19th March 2016.


    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.:
    I, @obblebobble agree.
     
  2. 7amoodw

    7amoodw Electrical and Electronics Engineer
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    I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract:
    I understand.
     
  3. FuryFudge

    FuryFudge IDK ask Fury
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    Looks great! As you are probably aware, remember to time-stamped any screenshots by double tapping f2.
    Locked - Contract Approved
     
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