[Contract] Bond Agreement

Discussion in 'Approved Contracts Archive' started by Zedoker, Apr 30, 2019.

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  1. Zedoker

    Zedoker ~|Huggable Ex-GameAdmin & Ex-Tomkfc Lover|~
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    IGN:
    @Zedoker
    Users Involved in this Contract:
    @EtherealSquid
    General Purpose of Contract:

    To outline an investment in @Zedoker's loan company that will act similar to a bond.

    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, Zedoker, agree to the following:
    -To responsibly use @EtherealSquid 's 200,000 in giving out loans to other users.
    -To not spend any of @EtherealSquid 's money outside of providing loans for people.
    -To keep @EtherealSquid informed of which loans are using his funding in my thread located at tinyurl.com/zedoloans. The original post will be edited to inform within 48 hours of contract approval.
    -To alternate between using my own funding and the funding given by @EtherealSquid whenever giving out a loan
    -To give @EtherealSquid any amount of his own money that he requests within 72 hours. It is to not exceed however money he has put in +95% of the interest accrued.
    -To file a complaint when a potential loan scam occurs that uses the money that @EtherealSquid provides
    -If such a loan scam occurs, @Zedoker will begin to collect funds at a minimum of 20k/day for repayment of the loan. If a loan scam that results in a ban is appealed, @Zedoker will get to keep the money as long as the @EtherealSquid was repaid fully before the appeal was processed.
    -Upon payback of a loan that uses the funds that @EtherealSquid provides, I, @Zedoker, agree to put the original loan amount along with 95% of the interest in @EtherealSquid 's section of tinyurl.com/zedoloans. 5% of the original interest will be deposited in my fund account in the same thread.

    The other user(s) involved with this contract must agree to the following terms:

    @EtherealSquid agrees to the following:
    - Agrees to pay me, @Zedoker, a sum of 200,000 ecd as an investment in my company that will be used as loan funding
    -Agrees that, if money is requested, to allow @Zedoker up to 72 hours from the request to pay the requested amount
    -Agrees that when money is requested, that the sum requested is not to exceed to the amount that was put in and 95% of the interest accrued. If such a request is made, it must be agreed to with @Zedoker and will be given 72 hours to be fulfilled.
    -Agrees to have 5% of any interest earned on the loans that @EtherealSquid 's funding provides be given to @Zedoker.

    Additionally, with the approval of this contract:
    @EtherealSquid will be allowed to deposit money at any time, as long as he states that the money given is to go towards the funding that is part of Zedokers loan services.
    Withdrawal of such funds will fall under the 72 hour withdraw time limit as stated above.

    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, @Zedoker, agree.
     
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    #1 Zedoker, Apr 30, 2019
    Last edited: May 2, 2019
  2. EtherealSquid

    EtherealSquid Former ServerAdmin
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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 agree.
     
  3. Zedoker

    Zedoker ~|Huggable Ex-GameAdmin & Ex-Tomkfc Lover|~
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    @EtherealSquid I had to make a correction, now I have 72 hours to payback your requested amount, and you can't withdraw more than you deposited and it doesn't matter if its listed as "your" funding, instead it just needs to be paid with my money if needed
     
  4. EtherealSquid

    EtherealSquid Former ServerAdmin
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    @EtherealSquid

    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 agree.
     
  5. Snoopdaloo

    Snoopdaloo EcoLeader
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    Contract approved.
     
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