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Template installment-sale@0.6.0

Contract Ergo ^0.7.1 cd16ad976cbcec2f47876839c16c5a755537d3ebeeccb20312ec6aaf2231f886

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": "0d3ed8d2-7ed3-46d9-ba57-aa91636c33cb",
    "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": "6fa88ae0-ac5e-11e8-ae05-7b30d9585bc6"
}

Request Types

Type Sample JSON
org.accordproject.installmentsale.ClosingPayment 
{
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 228.616,
    "transactionId": "6fa863d0-ac5e-11e8-ae05-7b30d9585bc6",
    "timestamp": "2018-08-30T14:10:23.501Z"
}
org.accordproject.installmentsale.Installment 
{
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 198.847,
    "transactionId": "6fa83cc0-ac5e-11e8-ae05-7b30d9585bc6",
    "timestamp": "2018-08-30T14:10:23.500Z"
}

Response Types

Type Sample JSON
org.accordproject.installmentsale.Balance 
{
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 82.148,
    "total_paid": 251.415,
    "transactionId": "6fa863d2-ac5e-11e8-ae05-7b30d9585bc6",
    "timestamp": "2018-08-30T14:10:23.501Z"
}

Events Types

Type Sample JSON
org.accordproject.installmentsale.PaymentObligation 
{
    "$class": "org.accordproject.installmentsale.PaymentObligation",
    "amount": 97.751,
    "party": "Exercitation.",
    "eventId": "6fa88ae2-ac5e-11e8-ae05-7b30d9585bc6",
    "timestamp": "2018-08-30T14:10:23.502Z"
}