"Dan" agrees to pay to "Ned" the total sum 10,000.00 EUR, in the manner following:

500.00 EUR is to be paid at closing, and the remaining balance of 9,500.00 EUR shall be paid as follows:

500.00 EUR 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, which 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.

{{BUYER}} agrees to pay to {{SELLER}} the total sum {{INITIAL_DUE as "0,0.00 CCC"}}, in the manner following:

{{DUE_AT_CLOSING as "0,0.00 CCC"}} is to be paid at closing, and the remaining balance of {{TOTAL_DUE_BEFORE_CLOSING as "0,0.00 CCC"}} shall be paid as follows:

{{MIN_PAYMENT as "0,0.00 CCC"}} 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, which shall start on month {{FIRST_MONTH}}, include both principal and interest with interest at the rate of {{INTEREST_RATE}}%, computed monthly on the remaining balance from time to time unpaid.

namespace org.accordproject.installmentsale@0.2.0

import org.accordproject.contract@0.2.0.Clause from https://models.accordproject.org/accordproject/contract@0.2.0.cto
import org.accordproject.runtime@0.2.0.{Request,Response} from https://models.accordproject.org/accordproject/runtime@0.2.0.cto
import org.accordproject.money@0.3.0.MonetaryAmount from https://models.accordproject.org/money@0.3.0.cto

transaction Installment extends Request {
  o MonetaryAmount amount
}

transaction ClosingPayment extends Request {
  o MonetaryAmount amount
}

transaction Balance extends Response {
  o MonetaryAmount balance
  o String balanceCurrency
  o MonetaryAmount total_paid
  o String totalPaidCurrency
}

enum ContractStatus {
  o WaitingForFirstDayOfNextMonth
  o Fulfilled
}

concept InstallmentSaleState identified {
  o ContractStatus status
  o MonetaryAmount balance_remaining
  o Integer next_payment_month
  o MonetaryAmount total_paid
}

event InstallmentSalePaymentEvent {
  o MonetaryAmount amount
  o String description
}

/**
 * The template model
 */
@template
asset TemplateModel extends Clause {
  o String BUYER
  o String SELLER
  o Double INITIAL_DUE
  o String CURRENCY_CODE
  o Double INTEREST_RATE
  o MonetaryAmount TOTAL_DUE_BEFORE_CLOSING
  o MonetaryAmount MIN_PAYMENT
  o Double DUE_AT_CLOSING
  o Integer FIRST_MONTH
}