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Template installment-sale@0.4.0

Contract Ergo ^0.5.0 632dca25d4e2356add0e9c496d37a873be7dc810b7c470d62b258f5dc543bc91

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": "cf720716-d1f0-4bb0-90a7-148ae8027850",
    "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": "f2613a60-966d-11e8-91eb-632e912d28eb"
}

Request Types

Type Sample JSON
org.accordproject.installmentsale.ClosingPayment 
{
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 54.243,
    "transactionId": "f2611350-966d-11e8-91eb-632e912d28eb",
    "timestamp": "2018-08-02T16:05:59.685Z"
}
org.accordproject.installmentsale.Installment 
{
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 129.282,
    "transactionId": "f260ec40-966d-11e8-91eb-632e912d28eb",
    "timestamp": "2018-08-02T16:05:59.684Z"
}

Response Types

Type Sample JSON
org.accordproject.installmentsale.Balance 
{
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 232.748,
    "total_paid": 254.32,
    "transactionId": "f2611352-966d-11e8-91eb-632e912d28eb",
    "timestamp": "2018-08-02T16:05:59.685Z"
}

Events Types

Type Sample JSON
org.accordproject.installmentsale.PaymentObligation 
{
    "$class": "org.accordproject.installmentsale.PaymentObligation",
    "amount": 133.126,
    "party": "Sint irure nostrud enim.",
    "eventId": "f2613a62-966d-11e8-91eb-632e912d28eb",
    "timestamp": "2018-08-02T16:05:59.686Z"
}