[Contract] Long-Term Savings Agreement

Discussion in 'Approved Contracts Archive' started by Chundi_Jr, Mar 16, 2020.

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  1. Chundi_Jr

    Chundi_Jr Ex-Rebecca
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    IGN:
    @Chundi_Jr

    Users Involved in this Contract:
    @Quackk

    Terms of the Contract:
    @Quackk will be entering into a long-term savings agreement with Dr. @Chundi_Jr PhD. The terms of this agreement are listed below.
    • @Quackk agrees to pay @Chundi_Jr a total of $5,000,000 ECD over a 6 week period ending on April 21, 2020.
    • @Quackk agrees that $350,000 of his savings goal will be forfeited to @Chundi_Jr as payment for services in the event that the full amount of $5,000,000 ECD is not received by April 21, 2020 deadline.
    • @Quackk agrees to make payments through the forum transfer system only.
    • @Quackk agrees to make payments in $50,000 ECD minimum increments (with no maximum increment)
    • @Quackk acknowledges and understands that @Chundi_Jr will not, under any circumstance, return any money unless one of the follow conditions is met:
    1. @Quackk has reached his goal of $5,000,000 ECD, at which time @Chundi_Jr will pay him the total sum of $5,000,000 ECD.
    2. The April 21, 2020 deadline has been reached and the savings goal has not been met. At this time, @Chundi_Jr will pay back all accumulated funds (less $350,000 ECD which will have been forfeited for services) or the savings agreement will be renegotiated.
    • @Chundi_Jr agrees to keep all of @Quackk's payments in her forum account for the entirety of the savings agreement.
    • @Chundi_Jr agrees to refuse @Quackk if he requests his money back early for any reason.
    • @Chundi_Jr agrees to pay @Quackk $5,000,000 ECD once he has made payments totalling $5,000,000 ECD.
    • In the event that the savings goal is not met within the timeframe, @Chundi_Jr agrees to pay @Quackk all accumulated funds (less $350,000 ECD which will have been forfeited for services) or enter into renegotiations.
    I agree to the terms listed above:
    I agree.
     
  2. Quackk

    Quackk I like to build
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  3. georgie0417

    georgie0417 ᕙ༼ຈل͜ຈ༽ᕗ Raise ur Dongers ᕙ༼ຈل͜ຈ༽ᕗ
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    Contract Approved.

    Locked.
     
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