Loan Contract

Discussion in 'Approved Contracts Archive' started by monkeyBUTT244, Aug 28, 2014.

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  1. monkeyBUTT244

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    IGN:
    @monkeyBUTT244

    Users Involved in this Contract:
    @monkeyBUTT244 , @VTFAN8

    General Purpose of Contract:
    To safely keep track of the loan being given to @VTFAN8 and have evidence if evidence is needed to file a complaint.

    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 will pay @VTFAN8 $165,000 ECD
    • I will not ask or bother for the needed amount of $200k earlier, and I will only ask when time is up.

    The other user(s) involved with this contract must agree to the following terms:
    • @VTFAN8 will pay $200,000 ECD in 2 weeks as of the initial payment of $165,000 ECD from me, @monkeyBUTT244. This will be screenshotted with a timestamp.
    • If @VTFAN8 fails to pay back on time, there will be a $5,000 late fee for every day missed from paying on time.
    • If @VTFAN8 still fails to pay the whole amount of money needed in 1 week (7 days) as of the 2 weeks being up, (this being the 19th of September 2014)@monkeyBUTT244 will file a complaint.
    • A sign will be set up in my town of Ciudad in Legacy to pay payments of $25,000 ECD. This is located at x: -2361, y: 50, z: -7662. The money can be paid all in 1 day, in even increments, or however @VTFAN8 decides. This is not my decision how he pays the money, but it all must be paid in 14 days as of the payment being sent.

    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 agree
     
    #1 monkeyBUTT244, Aug 28, 2014
    Last edited: Aug 29, 2014
  2. VTFAN8

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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:
    Yep
     
    #2 VTFAN8, Aug 28, 2014
    Last edited: Aug 29, 2014
  3. monkeyBUTT244

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    I think you need to tag yourself in the agreement, but don't quote me on that.
     
  4. oreo1227

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    That is correct. @VTFAN8, please tag yourself in the agreement statement.
     
  5. oreo1227

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    @monkeyBUTT244, after reviewing this contract, there are a few things that I feel need to be fixed. I highlighted them and will explain.

    1. State when you will be paying vtfan. (Right after the contract is approved, some specific time?)
    2. 2 weeks from paying vtfan initially?
    3. Please put an end date to late fees. We do not allow open ended late fees. I understand you say in the line below (Highlighted in light blue) that you will file a complaint at that time, but that doesn't necessarily mean that the late fees are done - which is why I'm asking you fix that.
    Other than those few things, this contract should be alright. Once these edits are made, @VTFAN8 will need to re-agree.
     
  6. monkeyBUTT244

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    @oreo1227 I paid @VTFAN8 right as contract was posted, and he can verify it. The remaining edits have now been made, @VTFAN8 please reagree.
     
  7. VTFAN8

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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:
    Yep
     
    #7 VTFAN8, Aug 29, 2014
    Last edited: Aug 30, 2014
  8. oreo1227

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    Please, one last little thing, fix your tagging in your agreement :)
     
  9. oreo1227

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    Contract Approved - Remember to take plenty of screenshots with timestamps (double tap f2)
     
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