IGN: @CrazySwagMaster1 Users Involved in this Contract: @CrazySwagMaster1 @haydensch General Purpose of Contract: Business Partnership Terms of @CrazySwagMaster1 and @haydensch owning Economy Bank. For the purpose of this contract 'business assets' are not owned by the business, but they are owned evenly by @CrazySwagMaster1 and @haydensch 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: Creation of Business Both @haydensch and @CrazySwagMaster1 must create their trade signs mentioned in 'business balance' with 50k ecd in the sign, buying stacks nstars for $1 each. STAFF- this is required to be done before this contract is approved. If anyone is to sell us a stack of nstars for $1 each they are to be split evenly among @haydensch and @CrazySwagMaster1 or returned to the person who sold them to us. @CrazySwagMaster1 's sign will be located in legacy: X: -3556 Y: 78 Z: -4591 @haydensch 's sign will be located in rising: X: -11314 Y: 27 Z: -11738 Once contract is approved, @haydensch will create a forum thread describing our business plan in more detail for users. He has 48 hours to do this. Business Deposits Both @CrazySwagMaster1 and @haydensch will periodically agree to deposit X dollars into the business trade signs outlined in business balance. When this is done they will break the trade sign and replace it with the prior existing value with the addition of the amount they both agreed upon. General: Consider @haydensch and @CrazySwagMaster1 partners and equals when doing business as Economy Bank Both @CrazySwagMaster1 and @haydensch own 50% of Economy Bank and the assets purchased by it. Both of us must agree on business decisions before they go into effect including, but not limited to, the following; Buying new tools/loaning out money. Posting contracts with clients. Updating any sort of rates/prices that are shown on forum threads regarding our business. Any form of profit (interest off loans, tool rental fees, sales of tools, etc.) is to be split three ways and transferred the following balances: @CrazySwagMaster1 @haydensch The business balance (see next category) The only exception to this is located under "Cancellation of Business" The /own on any tools purchased through methods outlined in acquisition of assets do not justify true ownership of any tool purchased through this business (see acquisition of assets). The tools that are bought with company money are to be considered as owned evenly by both @haydensch and @CrazySwagMaster1 Business Balance: The business balance is accumulated by 1/3 of all profits from business transactions when doing business as Economy Bank. The balance stored in two trade signs with even values in each. One of these trade signs will 'belong' to, and location be in the discretion of @CrazySwagMaster1 The other of these trade signs will 'belong' to,and location be in the discretion of @haydensch Both of these trade signs are to be accessible by each user via /tpc, /home, or within 20 blocks of a /warp. These are never to be moved without the three days prior notification to the other business partner. Acquisition of Assets: When purchasing business assets (tools, buildings, etc.) from a third party it must be done in one of the following ways (both @haydensch and @CrazySwagMaster1 must agree to the method, as per closed bullet 2 in general): Both @haydensch and @CrazySwagMaster1 pay half the purchasing cost it takes to acquire the asset. This would be done by one partner using /pay to accommodate half the cost of acquiring the asset. Then the partner dealing directly with the third party via contracts/in game agreement need to either complete the transaction refund the partner using /pay within 3 hours. The business balance (see fourth closed bullet in general) may be used to fund the purchase. When this is done the balance is 'given' to one owner of Economy Bank to complete the purchase. The remaining business balance is then halved between the two Business Balance trade sign. Sale of Assets: Any and all sales of an asset to a third party requires both users to agree to the transaction via contract if the transaction will result in the third party being in our debt via payment plans, loans, etc. For a user to be in our debt (through payment plans, loans, etc) the following conditions of the user must all be true. Never have been banned for scamming/breach of contract. Have not been banned for any reason within the last 3 months. Have had a forum account for 6 months or more. Have no current debts to other players/businesses. Both owners must approve of the transaction via a contract on forums. When one owner is not online to sell an asset, the remaining owner may sell an asset if all the following conditions are met. The other owner has been contacted via forum mail and waited for 3 hours to approve/deny the transaction The transaction is being paid for all up front. The asset has the /own of the owner that is trying to sell it. The asset is being sold via a contract on forums. if the offline owner logs in they may deny the sale of the asset until the contract is approved by a staff member. Cancellation of Business: Either @CrazySwagMaster1 or @haydensch may request to close Economy Bank. This act is non-negotiable to the owner not insisting the request. Any existing payments from clients via payment plans, loan repayments, etc. will be issued 50/50 between @haydensch and @CrazySwagMaster1 This holds priority over how money is handled under "General" and "Business Balance" The Business Balance in ecodollars is to be split evenly between @haydensch and @CrazySwagMaster1 at the time of closing. If both of their trade signs are equal (they should be if this contract is followed properly), each owner may simply take possession of the balance in their business balance trade sign. Any existing business assets are to be sold and the balance is to be split evenly between @haydensch and @CrazySwagMaster1 Any alternative to this must be agreed upon by @haydensch and @CrazySwagMaster1 at the time of the cancellation of business. This contract is void once all four of the other closed bullets in this category have been met. One Owner Remaining: When there is only one owner remaining, they assume full rights to the business. This happens when one of the following terms are met. An owner has been offline for two or more weeks, without prior notice to the other owner as to why. An owner has been banned for two or more weeks, this cannot include temp bans that expire automatically. An owner is perm-banned. They essentially own everything they have access to, including the list below. All star tools (including those with the other's /own, they may sell this, following the rules outlined on the wiki). Their business balance trade sign. Upon the return of the inactive/banned owner, they then assume access to the other assets. Their trade sign. Remaining star tools. The other user(s) involved with this contract must agree to the following terms: Creation of Business Both @haydensch and @CrazySwagMaster1 must create their trade signs mentioned in 'business balance' with 50k ecd in the sign, buying stacks nstars for $1 each. STAFF- this is required to be done before this contract is approved. If anyone is to sell us a stack of nstars for $1 each they are to be split evenly among @haydensch and @CrazySwagMaster1 or returned to the person who sold them to us. @CrazySwagMaster1 's sign will be located in legacy: -3556 78 -4591 @haydensch will create his sign at X: -11314 Y: 27 Z: -11738 Once contract is approved, @haydensch will create a forum thread describing our business plan in more detail for users. He has 48 hours to do this. Business Deposits Both @CrazySwagMaster1 and @haydensch will periodically agree to deposit X dollars into the business trade signs outlined in business balance. When this is done they will break the trade sign and replace it with the prior existing value with the addition of the amount they both agreed upon. General: Consider @haydensch and @CrazySwagMaster1 partners and equals when doing business as Economy Vault Both @CrazySwagMaster1 and @haydensch own 50% of Economy Bank and the assets purchased by it. Both of us must agree on business decisions before they go into effect including, but not limited to, the following; Buying new tools/loaning out money. Posting contracts with clients. Updating any sort of rates/prices that are shown on forum threads regarding our business. Any form of profit (interest off loans, tool rental fees, sales of tools, etc.) is to be split three ways and transferred the following balances: @CrazySwagMaster1 @haydensch The business balance (see next category) The only exception to this is located under "Cancellation of Business" The /own on any tools purchased through methods outlined in acquisition of assets do not justify true ownership of any tool purchased through this business (see acquisition of assets). The tools that are bought with company money are to be considered as owned evenly by both @haydensch and @CrazySwagMaster1 Business Balance: The business balance is accumulated by 1/3 of all profits from business transactions when doing business as Economy Bank. The balance stored in two trade signs with even values in each. One of these trade signs will 'belong' to, and location be in the discretion of @CrazySwagMaster1 The other of these trade signs will 'belong' to,and location be in the discretion of @haydensch Both of these trade signs are to be accessible by each user via /tpc, /home, or within 20 blocks of a /warp. These are never to be moved without the three days prior notification to the other business partner. Acquisition of Assets: When purchasing business assets (tools, buildings, etc.) from a third party it must be done in one of the following ways (both@haydensch and @CrazySwagMaster1 must agree to the method, as per closed bullet 2 in general): Both @haydensch and @CrazySwagMaster1 pay half the purchasing cost it takes to acquire the asset. This would be done by one partner using /pay to accommodate half the cost of acquiring the asset. Then the partner dealing directly with the third party via contracts/in game agreement need to either complete the transaction refund the partner using /pay within 3 hours. The business balance (see fourth closed bullet in general) may be used to fund the purchase. When this is done the balance is 'given' to one owner of Economy Bank to complete the purchase. The remaining business balance is then halved between the two Business Balance trade sign. Sale of Assets: Any and all sales of an asset to a third party requires both users to agree to the transaction via contract if the transaction will result in the third party being in our debt via payment plans, loans, etc. For a user to be in our debt (through payment plans, loans, etc) the following conditions of the user must all be true. Never have been banned for scamming/breach of contract. Have not been banned for any reason within the last 3 months. Have had a forum account for 6 months or more. Have no current debts to other players/businesses. Both owners must approve of the transaction via a contract on forums. When one owner is not online to sell an asset, the remaining owner may sell an asset if all the following conditions are met. The other owner has been contacted via forum mail and waited for 3 hours to approve/deny the transaction The transaction is being paid for all up front. The asset has the /own of the owner that is trying to sell it. The asset is being sold via a contract on forums. if the offline owner logs in they may deny the sale of the asset until the contract is approved by a staff member. Cancellation of Business: Either @CrazySwagMaster1 or @haydensch may request to close Economy Bank. This act is non-negotiable to the owner not insisting the request. Any existing payments from clients via payment plans, loan repayments, etc. will be issued 50/50 between @haydensch and @CrazySwagMaster1 This holds priority over how money is handled under "General" and "Business Balance" The Business Balance in ecodollars is to be split evenly between @haydensch and @CrazySwagMaster1 at the time of closing. If both of their trade signs are equal (they should be if this contract is followed properly), each owner may simply take possession of the balance in their business balance trade sign. Any existing business assets are to be sold and the balance is to be split evenly between @haydensch and @CrazySwagMaster1 Any alternative to this must be agreed upon by @haydensch and @CrazySwagMaster1 at the time of the cancellation of business. This contract is void once all four of the other closed bullets in this category have been met. One Owner Remaining: When there is only one owner remaining, they assume full rights to the business. This happens when one of the following terms are met. An owner has been offline for two or more weeks, without prior notice to the other owner as to why. An owner has been banned for two or more weeks, this cannot include temp bans that expire automatically. An owner is perm-banned. They essentially own everything they have access to, including the list below. All star tools (including those with the other's /own, they may sell this, following the rules outlined on the wiki). Their business balance trade sign. Upon the return of the inactive/banned owner, they then assume access to the other assets. Their trade sign. Remaining star tools. 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.: Yes.
Hello, before this contract can be approved there's something that needs fixing: companies here on ECC can't be considred entities and so can't owe items/money. Please fix your contract to reflect this. Due to what i wrote above you'll also need to state who of you 2 owns money/tools via forum or ingame contracts. Rule of thumb when changing this: the company can't own anything, the company itself is just a brand that you do business under, one of you 2 needs to own eveything within it.
When you say "one of you two", are you implying we can't both own a tool evenly? Because that would be an easy fix if we could just state that we both own a 1/2 share in each tool.
That would be possible. In that case you'll also need clauses on what happens if one of you goes inactive or gets banned. Also if you want to own a tool 50/50 you'll need to put those clauses in any contract you might use when you buy it.
@maroiogog I changed some of the wording and added a line into the general purpose to state that we own it 50/50, not owned by the company. I also added the section "One Owner Remains" to fix the inactivity/ban issues.
IGN: @haydensch 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
Hello, since the contract looks good i'll approve it. Remember to take timestamped screenshots of all transactions by double tapping f2. I wish you luck with your new business. Locked approved.
