[Contract] $200,000 Investment

Discussion in 'Approved Contracts Archive' started by Obblebobble, Dec 1, 2015.

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  1. Obblebobble

    Obblebobble Vault of ECC - Founder
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    IGN:
    @obblebobble

    Users Involved in this Contract:
    @TomKC

    General Purpose of Contract:
    Investing $200,000 into the Vault of ECC (@TomKC investing with @obblebobble)

    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 agree to the following terms:
    - Agree to pay out 40% of all profit generated with the invested money. This will mainly be sourced from interest rates. @TomKC will have this profit noted down and can be withdraw at any time, with a 24 hour grace period.
    - Agree to have the full deposit/investment amount available within 7 days after a withdraw is requested AND after the 2 month locked period IF no loans are currently active and using this money.
    - Agree to inform @TomKC of all payments made with the money and be 100% truthful to the best of my knowledge about what I am doing with it, and how much profit I make so I can give @TomKC a fair 40% portion. This will be done via both a forum PM and a Google Sheets spreadsheet, occasionally updates will be posted on the Vault of ECC forum thread.
    - Agree that in the case of me being scammed out of the investment that I will still return 100% of the deposit out of my own funding. This gives @TomKC essentially a risk-free investment.


    The other user(s) involved with this contract must agree to the following terms:
    @TomKC agrees to the following terms:
    - He must send a total of $200,000 ECD to @obblebobble within 12 hours of this contract being approved.
    - Agrees to not file a complaint or request the initial deposit back for a total of 2 (two) months, making the funds 'unlock" on the 2nd of February 2016.
    - Agrees that if he is inactive for more than 2 months at a time then the funds will be forfeited to @obblebobble along with any unpaid interest.
    - Agrees that @TomKC is not guaranteed to make a profit on the deposit
    - Agrees to allow a 7 day grace period upon requesting the funds to be withdrawn (after the unlock date). This allows @obblebobble to gather the full deposit amount and interest. Assuming no loans are currently active with the money.
    - Agrees that @TomKC will only receive interest on loans that his money actively contributes towards. Loans sourced via other funding methods will not count towards his ROI (return on investment).


    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, @obblebobble agree.
     
    #1 Obblebobble, Dec 1, 2015
    Last edited: Dec 1, 2015
  2. TomKFC

    TomKFC Mayor
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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:
    Yes
     
  3. ze7707

    ze7707 Builder
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    Looks good, make sure you timestamp all transactions by double tapping f2.

    Contract Approved.
     
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