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account without notice by paying the full amount of the $20,000 ECD initially invested (less any funds previously were withdrawn) and any interest it has earned. @IceyErem agrees to repay the full $20,000 ECD (less any funds withdrawn) with interest of 2% compounding weekly (every Sunday at 11:59 pm PST), when either he or @ThingExplainer close the account.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 Funds withdrawn will be subtracted from the amount to be repaid upon account closure.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 After this 4 week period, the full amount of the $20,000 ECD initially invested (less any funds previously were withdrawn) and any interest it has earned (including interest earned during this 4 week period) will be paid to @ThingExplainer by @IceyErem.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.
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OppyStoppy PainBuilder ⛰️ Ex-President ⚒️⚒️ Premium Upgrade
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KaylahJacobs BuilderBuilder ⛰️ Ex-President ⚒️⚒️
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 -
OppyStoppy PainBuilder ⛰️ Ex-President ⚒️⚒️ Premium Upgrade
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LaggyTryHard ♛Exalted Builder♛EcoLeader ⛰️⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade
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OppyStoppy PainBuilder ⛰️ Ex-President ⚒️⚒️ Premium Upgrade
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Welp, fixed.
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OppyStoppy PainBuilder ⛰️ Ex-President ⚒️⚒️ Premium Upgrade
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Kaylah agree to that contract exactly like you did here. -
hooliajade RIP Panda Nation | Retired ModEcoLeader ⛰️⛰️⛰️ Ex-President ⚒️⚒️ Premium Upgrade
Looks good, @ThingExplainer just has to agree in proper format to move forward
Status: in waiting -
ThingExplainer BuilderBuilder ⛰️ Ex-Mayor ⚒️⚒️
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. -
hooliajade RIP Panda Nation | Retired ModEcoLeader ⛰️⛰️⛰️ Ex-President ⚒️⚒️ Premium Upgrade
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-
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