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Template installment-sale@0.7.0

Contract Ergo ^0.8.0 d3674965c2c62c8a0d118453f6ea4986c646dcb9532c6cb11c4764bbb4ccc813

This is a clause for a simple installment sale.

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Installment Sale

A simple clause for a sale paid in installments.


"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": "0c706d27-90f4-4645-af79-42e71d8398ab",
    "BUYER": "Dan",
    "SELLER": "Ned",
    "INITIAL_DUE": 10000,
    "INTEREST_RATE": 1.5,
    "MIN_PAYMENT": 500,
    "DUE_AT_CLOSING": 500

State Types

Type Sample JSON
    "$class": "org.accordproject.installmentsale.InstallmentSaleState",
    "status": "WaitingForFirstDayOfNextMonth",
    "balance_remaining": 239.778,
    "next_payment_month": 29635,
    "total_paid": 101.532,
    "stateId": "07d7ac71-b5f5-11e8-98f1-f70046c609b7"

Request Types

Type Sample JSON
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 110.954,
    "transactionId": "07d75e51-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.797Z"
    "$class": "org.accordproject.installmentsale.InitializeRequest",
    "firstMonth": 158.368,
    "transactionId": "07d73740-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.797Z"
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 250.952,
    "transactionId": "07d75e50-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.797Z"

Response Types

Type Sample JSON
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 246.102,
    "total_paid": 95.472,
    "transactionId": "07d78561-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.798Z"
    "$class": "org.accordproject.installmentsale.InitializeResponse",
    "transactionId": "07d75e52-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.797Z"

Events Types

Type Sample JSON
    "$class": "org.accordproject.installmentsale.PaymentObligation",
    "amount": 14.722,
    "party": "Elit qui.",
    "eventId": "07d7ac73-b5f5-11e8-98f1-f70046c609b7",
    "timestamp": "2018-09-11T19:01:03.800Z"
    "abstract": "this is an abstract type"