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Template installment-sale@0.3.0

Contract Ergo ^0.4.6 54c9cb5fc255c70f111b06c1b2fbefce7c55fd34b0db116fab856c432ca5c89b

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": "d15c4ee6-28a7-419f-b6f8-be47831edd64",
    "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": "b10d91c2-85ed-11e8-bfc4-b186147bdb41"
}

Request Types

Type Sample JSON
org.accordproject.installmentsale.ClosingPayment 
{
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 134.417,
    "transactionId": "b10d6ab0-85ed-11e8-bfc4-b186147bdb41",
    "timestamp": "2018-07-12T16:07:35.899Z"
}
org.accordproject.installmentsale.Installment 
{
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 31.794,
    "transactionId": "b10d43a0-85ed-11e8-bfc4-b186147bdb41",
    "timestamp": "2018-07-12T16:07:35.899Z"
}

Response Types

Type Sample JSON
org.accordproject.installmentsale.Balance 
{
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 228.157,
    "total_paid": 191.8,
    "transactionId": "b10d91c0-85ed-11e8-bfc4-b186147bdb41",
    "timestamp": "2018-07-12T16:07:35.900Z"
}

Events Types

Type Sample JSON
org.accordproject.installmentsale.PaymentObligation 
{
    "$class": "org.accordproject.installmentsale.PaymentObligation",
    "amount": 0.389,
    "party": "Officia amet eiusmod ad duis.",
    "eventId": "b10d91c4-85ed-11e8-bfc4-b186147bdb41",
    "timestamp": "2018-07-12T16:07:35.900Z"
}