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Template installment-sale@0.2.0

Contract Ergo ^0.4.4 7e38a8a846ce3d04ba1c7e477897eac8edbac21fa57d014d7ef8b3abff46bb38

This is a clause for a simple installment sale.

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Installment Sale

A simple clause for a sale paid in installments.

Sample

"Dan" agrees to pay to "Ned" the total sum e10000, in the manner following:

E500 is to be paid at closing, and the remaining balance of E9500 shall be paid as follows:

E500 or more per month on the first day of each and every month, and continuing until the entire balance, including both principal and interest, shall be paid in full -- provided, however, that the entire balance due plus accrued interest and any other amounts due here-under shall be paid in full on or before 24 months.

Monthly payments shall include both principal and interest with interest at the rate of 1.5%, computed monthly on the remaining balance from time to time unpaid.

Model Dependencies

Technical Integration

Please refer to the Cicero documentation for details and examples of how to integrate a call to a Cicero template into your application.

View the Latest code for this template on on GitHub.

Sample Instance

{
    "$class": "org.accordproject.installmentsale.InstallmentSaleContract",
    "contractId": "d00c863e-8d5a-4bc7-b869-33eb21d5c876",
    "BUYER": "Dan",
    "SELLER": "Ned",
    "INITIAL_DUE": 10000,
    "INTEREST_RATE": 1.5,
    "TOTAL_DUE_BEFORE_CLOSING": 9500,
    "MIN_PAYMENT": 500,
    "DUE_AT_CLOSING": 500
}

State Types

Type Sample JSON
org.accordproject.cicero.contract.AccordContractState 
{
    "$class": "org.accordproject.cicero.contract.AccordContractState",
    "stateId": "9aba3701-795b-11e8-9e1a-f1b99981beac"
}

Request Types

Type Sample JSON
org.accordproject.installmentsale.ClosingPayment 
{
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 80.239,
    "transactionId": "9aba0ff0-795b-11e8-9e1a-f1b99981beac",
    "timestamp": "2018-06-26T16:11:37.967Z"
}
org.accordproject.installmentsale.Installment 
{
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 167.803,
    "transactionId": "9ab9e8e0-795b-11e8-9e1a-f1b99981beac",
    "timestamp": "2018-06-26T16:11:37.966Z"
}

Response Types

Type Sample JSON
org.accordproject.installmentsale.Balance 
{
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 26.841,
    "total_paid": 25.447,
    "transactionId": "9aba0ff2-795b-11e8-9e1a-f1b99981beac",
    "timestamp": "2018-06-26T16:11:37.967Z"
}

Events Types

Type Sample JSON
org.accordproject.installmentsale.PaymentObligation 
{
    "$class": "org.accordproject.installmentsale.PaymentObligation",
    "amount": 116.098,
    "party": "Sunt.",
    "eventId": "9aba3703-795b-11e8-9e1a-f1b99981beac",
    "timestamp": "2018-06-26T16:11:37.968Z"
}