IGN: @IceyErem Users Involved in this Contract: @ThingExplainer General Purpose of Contract: This contract shall outline the investment of $20,000 ECD by @ThingExplainer into a investment account at “The AbsoluteZero Bank.” The investment of $20,000 ECD will be disbursed directly to @IceyErem, and @IceyErem will be solely liable for the investment and any interest it accrues. At the discretion of @IceyErem, the investment may be used by “The AbsoluteZero Bank,” its employees, and its current and future subsidiaries. Compounded interest will be calculated using the following formula: A=P(1+r/n)^(nt) Such that: A = the future value of the investment, including interest P = the initial investment amount r = the annual interest rate (as a decimal) n = the number of times that interest is compounded per year t = the number of years the money is invested or borrowed for This basically means each week on Sunday, Midnight PST, 2% of the balance before is "added" to the new balance. 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: Withdrawals @IceyErem will pay @ThingExplainer funds from the account with 4 weeks of prior notice. Account Closure @IceyErem may close the account without notice by paying the full amount of the $20,000 ECD initially invested (less any funds previously were withdrawn) and any interest it has earned. @IceyErem agrees to repay the full $20,000 ECD (less any funds withdrawn) with interest of 2% compounding weekly (every Sunday at 11:59 pm PST), when either he or @ThingExplainer close the account. The other user(s) involved in this contract must agree to the following terms: Account Creation Account Creation @ThingExplainer will transfer $20,000 ECD to @IceyErem within 24 hours of this contract’s approval. @ThingExplainer may use a indirect way, aka getting a staff member to forum send it. Withdrawals @ThingExplainer may withdraw funds from the account with 4 weeks prior notice. Funds withdrawn will be subtracted from the amount to be repaid upon account closure. Account Closure @ThingExplainer may close her account with “The AbsoluteZero Bank” with 4 weeks prior notice. After this 4 week period, the full amount of the $20,000 ECD initially invested (less any funds previously were withdrawn) and any interest it has earned (including interest earned during this 4 week period) will be paid to @ThingExplainer by @IceyErem. @IceyErem will create a savings account earning 2% interest compounding weekly (every Sunday at 11:59 pm PST) for @ThingExplainer in “The AbsoluteZero Bank” within 24 hours of receiving the $50,000 ECD. @IceyErem will add 2% interest on the funds in the savings account every week unless @ThingExplainer is banned. 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,@IceyErem, agree to these terms.
IGN: KaylahJacobs 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
https://www.ecocitycraft.com/forum/threads/investment-withdrawl-kaylahjacobs.173750/ Kaylah agree to that contract exactly like you did here.
IGN: ThingExplainer 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: I agree.
Great! Thank you both As i said, Contract looks good. Don't forget to take screenshots of transactions, etc and you will be all set. Status: Approved