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Template installment-sale@0.8.0

Contract Ergo ^0.9.1 c2b551d459bbe58a2aedf41c900413cbc3f960a0c2ecca9397b79874e1df4b37

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 start on month 3 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

{
    "$class": "org.accordproject.installmentsale.InstallmentSaleContract",
    "contractId": "6d5b463d-16c1-4564-a01d-38c4f357bdb9",
    "BUYER": {
        "$class": "org.accordproject.cicero.contract.AccordParty",
        "partyId": "Dan"
    },
    "SELLER": {
        "$class": "org.accordproject.cicero.contract.AccordParty",
        "partyId": "Ned"
    },
    "INITIAL_DUE": 10000,
    "INTEREST_RATE": 1.5,
    "TOTAL_DUE_BEFORE_CLOSING": 9500,
    "MIN_PAYMENT": 500,
    "DUE_AT_CLOSING": 500,
    "FIRST_MONTH": 3
}

State Types

Type Sample JSON
org.accordproject.installmentsale.InstallmentSaleState
{
    "$class": "org.accordproject.installmentsale.InstallmentSaleState",
    "status": "WaitingForFirstDayOfNextMonth",
    "balance_remaining": 164.721,
    "next_payment_month": 49341,
    "total_paid": 165.452,
    "stateId": "7c081220-e9bb-11e8-acc3-efb7a931ee24"
}

Request Types

Type Sample JSON
org.accordproject.cicero.runtime.Request
{
    "$class": "org.accordproject.cicero.runtime.Request",
    "transactionId": "7c07c400-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.384Z"
}
org.accordproject.installmentsale.ClosingPayment
{
    "$class": "org.accordproject.installmentsale.ClosingPayment",
    "amount": 42.054,
    "transactionId": "7c07c402-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.384Z"
}
org.accordproject.installmentsale.Installment
{
    "$class": "org.accordproject.installmentsale.Installment",
    "amount": 86.667,
    "transactionId": "7c07c401-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.384Z"
}

Response Types

Type Sample JSON
org.accordproject.cicero.runtime.Response
{
    "$class": "org.accordproject.cicero.runtime.Response",
    "transactionId": "7c07eb10-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.385Z"
}
org.accordproject.installmentsale.Balance
{
    "$class": "org.accordproject.installmentsale.Balance",
    "balance": 59.51,
    "total_paid": 179.685,
    "transactionId": "7c07eb12-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.385Z"
}

Events Types

Type Sample JSON
org.accordproject.base.Event
{
    "abstract": "this is an abstract type"
}
org.accordproject.cicero.runtime.PaymentObligation
{
    "$class": "org.accordproject.cicero.runtime.PaymentObligation",
    "amount": {
        "$class": "org.accordproject.money.MonetaryAmount",
        "doubleValue": 29.431,
        "currencyCode": "HKD"
    },
    "description": "Anim sunt.",
    "contract": "resource:org.accordproject.installmentsale.InstallmentSaleContract#4231",
    "promisor": "resource:org.accordproject.cicero.contract.AccordParty#1513",
    "promisee": "resource:org.accordproject.cicero.contract.AccordParty#1293",
    "deadline": "2018-11-16T16:20:08.387Z",
    "eventId": "7c083930-e9bb-11e8-acc3-efb7a931ee24",
    "timestamp": "2018-11-16T16:20:08.387Z"
}