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Author Topic: Loan contract (scrybe & BTCINVEST)  (Read 626 times)
TradeFortress
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January 24, 2013, 02:11:01 AM
 #1

(Actually a line of credit, but it belongs in this section)

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Line of credit size: 35 BTC

Line of credit address: 1G6Affj3gZWG1vsUN2Gw1Cc6XukJzmk9w

Repayment address: 1MUZy8vUwkFneL9Y2ojY6mhAx8g4C97oFs

Interest rate: 16% APR / 0.6563% bimonthly

Loan periods close on the 4th and 18th of each month, interest payments due on the subsequent closing day. Carried interest will accrue interest and requires prior approval.

Principal repayment: The creditor can choose to stop or reduce the line of credit, with a payment plan of the principal that is scaled proportionally to the line of credit taken. The full amount would mean a 90 day repayment period.

For example, 17.5 BTC outstanding would mean a 45 day repayment period, while 3.5 BTC outstanding would result in a 9 day repayment period.

While the interest payments are two or more months behind, a full repayment can be called and the debtor agrees to pay the full amount (principal + outstanding interest) within 30 days.

The line of credit will be offered by BTCINVEST.

Change of Terms
The terms of this contract may be changed at any time only if both parties (creditor and debtor) agree to all changes on http://bitcointalk.org/
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scrybe
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January 24, 2013, 02:13:15 AM
 #2

(Actually a line of credit, but it belongs in this section)

Quote
Line of credit size: 35 BTC

Line of credit address: 1G6Affj3gZWG1vsUN2Gw1Cc6XukJzmk9w

Repayment address: 1MUZy8vUwkFneL9Y2ojY6mhAx8g4C97oFs

Interest rate: 16% APR / 0.6563% bimonthly

Loan periods close on the 4th and 18th of each month, interest payments due on the subsequent closing day. Carried interest will accrue interest and requires prior approval.

Principal repayment: The creditor can choose to stop or reduce the line of credit, with a payment plan of the principal that is scaled proportionally to the line of credit taken. The full amount would mean a 90 day repayment period.

For example, 17.5 BTC outstanding would mean a 45 day repayment period, while 3.5 BTC outstanding would result in a 9 day repayment period.

While the interest payments are two or more months behind, a full repayment can be called and the debtor agrees to pay the full amount (principal + outstanding interest) within 30 days.

The line of credit will be offered by BTCINVEST.

Change of Terms
The terms of this contract may be changed at any time only if both parties (creditor and debtor) agree to all changes on http://bitcointalk.org/

I agree to these terms and will begin using this line of credit.

Thanks TradeFortress!

"...as simple as possible, but no simpler" -AE
BTC/TRC/FRC: 1ScrybeSNcjqgpPeYNgvdxANArqoC6i5u Ripple:rf9gutfmGB8CH39W2PCeRbLWMKRauYyVfx LTC:LadmiD6tXq7gFZvMibhFUZegUHKXgbu1Gb
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