IGN:
@Melbster
Users Involved in this Contract:
This contract involves @DoctorDavro
Terms of the contract:
The purpose of this contract is to loan $450,000 to @DoctorDavro on a payment plan
@Melbster Is responsible for sending $450,000 to @DoctorDavro within 24 hours on the contracts approval.
@DoctorDavro is responsible for making 45 payments of 10k within 6 months of this contract being approved at the chestshop set up at 230, 67, -220 on rising main in the town of plots.
If @DoctorDavro fails to make all payments within 6 months @Melbster will be given starrod Itemid #KXSGDJTP and all remaining payment will be nullified @Melbster will refund all money that has already been paid
I (the contract initiator) agree to the terms listed above:
Yes
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DoctorDavro MayorMayor ⛰️⛰️ Ex-President ⚒️⚒️
I agree
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@Melbster, @DoctorDavro: There's something I'd like to clarify before we can approve this contract.
There are two points I'd like you to clarify in the contract:
- Does the star rod replace the remaining payments or is it essentially a late fee on top of the remaining balance?
- If the loan has been partially repaid by the time the star rod is transferred, what happens to those completed payments? I.e. will they be refunded or will @Melbster keep them?
Once @Melbster has edited the original post, @DoctorDavro will need to re-agree. -
DoctorDavro MayorMayor ⛰️⛰️ Ex-President ⚒️⚒️
One requested change. I want to change the 2nd to last line to read
"If @DoctorDavro fails to make all payments within 6 months @Melbster will be given starrod Itemid #KXSGDJTP and all remaining payment will be nullified @Melbster will refund all money that has already been paid."
Because I think the starrod is more than enough collateral for the entire loan. Is this possible? -
DoctorDavro MayorMayor ⛰️⛰️ Ex-President ⚒️⚒️
Agreed
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Contract approved.
Remember to take screenshots of all relevant transactions.
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