Jewworks Industries
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Jewworks Industries was a loan company based in USA.
Contract Example
The following is a legal document concerning a non-taxable loan, given to (((LOANED))) on 1 January, 2009. The loaner is Jewron Incorporated (JEW) and the loaned is (((LOANED))).
The amount for the loan is 10 GOLD, non-taxable nor subject to changing market conditions. Its property shall be surrendered to USC and will be repaid via (((LOANED)) by (((END_DATE))), covering the loan period of (((LOAN_LIFE))) days with agreed fixed interest.
The fixed interest rate will be, for the term of the loan, 20%. This will mean that by the end of the loan period, (((LOANED))) will owe collectively 12 gold.
The transfer is to be assured by the goodwill of the participants, and is subject to the terms outlined by this legal document.
Payment is to be very fluid, paid through the account of USC directly to JEW, and can be paid in small (rounded to the whole) payments or in a single sum paid at any time before the end of the loan period before suffering fees. Early payment will not deduct interest, but only good standing between JEW and (((LOANED))).
Failure to pay loan from (((LOANED))) to JEW will result in a 0.5 gold charge for first day late. After the first day being late, every other -or every two- days will bring a 0.5 gold charge on top of the original loan interest charge. This will account for a charge of 0.25 gold per day after the first late day. These late charges are not taxable and will not be manipulated by exchange or interest.
Late charges are to be ceased by the sixth (6th) late sequence, or the twelfth (12th) day of being late. This would bring 3 gold extra in charges in all. After the ceasing of late charges, a re-assessment of the loan and its condition is to be conducted directly by JEW and (((LOANED))) immediately.
In the event of failure in re-assessment, a trial is to be called by JEW against USC for failure to repay the loaned amount, including the late fees (which should equal to a total of 15 gold). If it is found that (((LOANED))) is negligent, it is responsible for reimbursement of JEW for its trial fees. A total of 20 gold, if found at fault, is to be paid. Assuming guilt in failure to pay loan, the repayment may be in either the total amount of gold owed (20 gold) or an agreed collateral item. That collateral item(s) is _____. In the event that the collateral item(s) are the payment, it shall be given via ADMIN action to JEW affiliate Jewworks Industries (JWRX). JWRX is only a beneficiary in the event of collateral being the repayment of the loan. JWRX otherwise is not affiliated with the initial loan and its transactions.
