[Contract] Magic Tool Payment Plan

Discussion in 'Approved Contracts Archive' started by Flehx, Sep 16, 2021.

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  1. Flehx

    Mythic ⚔️ I ⚔️ EcoLegend ⛰️⛰️⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ VI ⭐ Premium Upgrade

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    IGN:

    @Flehx

    Users Involved in this Contract:

    @Flehx @Terrov @matrix_rep

    General Purpose of Contract:

    Safe sale of a Level 3 Magic Rod (#KKAWLZ1A) for $4,025,000 ECD on a payment plan

    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:

    To give @Terrov a Level 3 Magic Rod within 24 hours of this contract’s approval.

    To agree that if @Terrov misses a payment, the contract will remain valid, however; he will incur a one-time late fee of $25,000, and I agree that the one-time late fee will be paid on the day following the scheduled biweekly payment.

    To give the ‘/own' of the Level 3 Magic Rod to @Terrov once payments are complete.

    That @Terrov remains the holder of the Level 3 Magic Rod until the payment is complete or a breach of contract occurs and the tool is reclaimed.

    To agree that if payments are not complete and a breach of contract occurs, @Flehx reserves the right to reclaim the Level 3 Magic Rod without any refunds for what has been paid towards the ownership of it. To also agree, that if the Level 3 Magic Rod is successfully reclaimed after a breach of contract, @Flehx can not file a user complaint against @Terrov for this.

    I agree that if I am ever permabanned while this is still being paid off, I will '/own' the Level 3 Magic Rod to @Terrov once unbanned. The contract will still be valid if I am permabanned as @Terrov will still have possession of the Level 3 Magic Rod and will make remaining payments to @matrix_rep through the in-game '/pay matrix_rep' command.

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

    To pay @Flehx $1,006,250 ECD within 24 hours after this contract's approval.

    To pay $1,509,375 ECD biweekly to @Flehx for a total of $4,025,000 ECD (on payment plan) through a chest shop located at ‘/warp store’ (X: 10744 Y: 69 Z: 8199) starting on 09/30/2021 and ending on 10/15/2021. Full amount of $4,025,000 ECD must be paid by 10/15/2021.
    ** @Terrov may pay ahead of schedule too. **

    For each payment missed a one-time late fee of $25,000 ECD will be added to the total of the Level 3 Magic Rod with a limit of $25,000 ECD and that the one-time late fee will be paid on the day following the scheduled biweekly payment.

    If one biweekly payment plus the one-time late fee has been missed, then @Flehx has the right to reclaim the Level 3 Magic Rod from @Terrov with no refund of past payments, if an agreement can not be met.

    Failure to complete the total payment will result in a breach of contract and @Flehx retains the right to reclaim the Level 3 Magic Rod from @Terrov

    @Terrov agrees to store the Level 3 Magic in '/warp store' (X: 10744 Y: 68 Z: 8199) when they are offline or not using it. Failure to comply, @Flehx has the right to reclaim the Level 3 Magic Rod from @Terrov with no refund of past payments.

    If the Level 3 Magic Rod is lost by any means then @Terrov is still responsible for completing the payments or giving @Flehx a brand new Level 3 Magic Rod by 10/15/2021.

    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, @Flehx agree.
     
  2. Terrov

    Terrov Mayor
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    I agree. :)
     
  3. matrix_rep

    matrix_rep Runner Up in BB20
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  4. Lopporit

    Lopporit Shiny SA
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    This contract looks good guys, make sure to double tap F2 on all relevant transactions :)

    Contract approved, thread locked/moved.
     
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