[Webfunds-commits] contracts e-tender.asc e-tender.loc e-tender.txt

Mon, 12 Mar 2001 15:28:06 -0400 (AST)

iang        01/03/12 15:28:06

  Added:       .        e-tender.asc e-tender.loc e-tender.txt
  Log:
  new contract

Revision  Changes    Path
1.1                  contracts/e-tender.asc

Index: e-tender.asc
===================================================================
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

;
;  Hansa Bank US E-tender Dollars
;
;  Being, Demand Promises to Pay in US Dollars (USD)
;
;  As Issued by Hansa Bank & Trust Company Limited for
;  microfinance and other related purposes.

[definitions]
definitions_dollars = *
{
  Hansa Bank US E-tender dollars means the electronic currency,
  denominated in United States of America dollars, as facilitated
  by this Ricardian contract.  Other dollars, which may be used as
  exchange for Hansa Bank US E-tender dollars, are referred to as
  Account Dollars.
}

definitions_ricardian_contract = *
{
  Ricardian contracts are developed by Systemics to provide a mechanism
  to accurately express any form of contractual value.  More on Ricardian
  contracts can be found at http://www.systemics.com/docs/ricardo/
}

definitions_purpose = *
{
  The purpose of the Hansa Bank US E-tender Dollars is to facilitate the
  exchange of units of monetary value securely and efficiently over the
  Internet.
}

definitions_operator = *
{
  The Operator is responsible for the technical hosting and management
  of system hardware and software and the creation of a Mint account.
}

definitions_mint
{
  The Mint consists of secure software through which a Mint account and
  a Currency Manager's account may receive newly authorized Hansa Bank
  US E-tender dollars as authorized by the Bank.
}

definitions_currency_manager = *
{
  The Currency Manager is appointed by the Bank to manage issued
  Hansa Bank US E-tender dollars issued to his Currency Manager's
  account from the Mint account.

definitions_law = *
{
  The laws of Anguilla shall apply to this contract.
}

definitions_date = *
{
  The date of this contract between Hansa Bank and the users of Hansa
  Bank US E-tender dollars is March 1, 2001
}

[entity]
entity_shortname=Hansa Bank
entity_longname=Hansa Bank & Trust Company Limited
;
;  Note:  In the following, Hansa Bank & Trust Company Limited
;  may also be referred to as "the Bank" or  "Hansa Bank" or "Issuer".
;
}
entity_address= *
{
  Hansa Bank Building,
  Landsome Road, The Valley
  Anguilla, British West Indies, TV1 02P
}
entity_email=hansa@attglobal.net

;
;  The Contract itself and other information is posted on
;  the Issuer's Website at:
;  http://www.hansa.net/ricardo/contracts/
;  hereafter referred to as the "Contract Publication Page".
;
;  **Notices issued pursuant to this currency contract, such as
;  changes in contact addresses, will be published
;  and maintained at the Contract Publication Page**
;
entity_contract_url=http://www.hansa.net/ricardo/contracts/

[issue]
;
;  This section identifies the Operator of the Issuance Server,
;  (the "Operator") who is responsible for the technical hosting
;  and management of system hardware and software which responsibility
;  shall include the establishment of a Mint Account through which the
;  Bank can authorize issuance of Hansa Bank US E-tender dollars
;  which dollars must be transferred to an account which shall be
;  administered solely by the "Currency Manager" who shall be appointed
;  by the Bank to manage issued Hansa Bank US E-tender dollars.
;
issue_company = Systemics, Inc.
;
;  Systemics, Inc. is the initial contracted Operator appointed by
;  the Bank.
;
issue_email=issue@systemics.com
issue_contract_url= http://www.hansa.net/ricardo/contracts/
issue_type=currency

[currency]
currency_name=Hansa Bank US E-tender dollars
;
:  The symbol $ and the ISO/TLA of USD are not unique identifiers for
;  Hansa Bank US E-tender dollars.
;
currency_tla=USD
currency_symbol=$
;
;  This currency is denominated in dollars, with an underlying
;  unit of contract of cents.
;
currency_type=decimal
currency_decimal_power=2
currency_fraction=c

[conditions]
conditions_backing= *
{
  Hansa Bank US E-tender dollars are redeemable by the user in
  United States of America dollars, on demand, subject to the conditions
  specified in this currency contract.

  Hansa Bank will maintain a reserve of account-based United States of
  America dollars at all times.

  Hansa Bank is a bank incorporated in Anguilla, under the Trust
  Companies and Offshore Banking Act 2000 and is regulated by the
  Director of Financial Services of the Government of Anguilla.
}

conditions_reserves= *
{
  Hansa Bank will maintain at all times a reserve of United States
  of America dollars on account in the name of the Bank in an amount
  equivalent to 100% of the Hansa Bank US E-tender dollars in
  circulation.  The type of account, whether interest bearing or demand,
  will be made solely by the Bank, but will be limited to being
  denominated in United States of America Dollars.

  Hansa Bank reserves the right to select the institution or institutions
  based upon its own judgment into which it will place the reserve funds.
  In the case of redemption or otherwise, the Bank shall have the right
  to substitute the reserve account itself or the monetary instruments
  being held in the reserve account in full satisfaction of the pro-rata
  redemption notwithstanding that the said reserve account, institution
  or monetary instrument is illiquid or in default.  The Bank's sole
  liability shall be to turn said assets over to the holders of Hansa
  Bank US E-tender dollars or to a trustee appointed on their behalf.
}

conditions_audit= *
{
  Hansa Bank is audited by Ernst  & Young by their offices in Bridgetown,
  Barbados.

  The account or accounts which Hansa designates to hold the reserves
  for this currency are hereby designated public and non-confidential.
  Any and all balances and amounts of transactions may be reviewed,
  published, declared and that information may be distributed by the
  Bank or any holder of Hansa Bank E-tender dollars.

  Methods of access to the specific reserve account will be published on
  the Contract Publication Page, and may include telephone enquiries,
  email enquiries, Web pages or other methods as made available from
  time to time by the Bank.
}

conditions_purchase= *
{
a) All Purchase requests must include the users WebFunds account
   number obtained through the software program, WebFunds which program
   can be downloaded from a number of sites including
   http://www.webfunds.org

b) purchase requests should be delivered by secure means,
   and delivery details must be accepted and authorized in advance
   by the Bank, before funds are sent based upon disclosure of the
   source and origin of the funds and other factors determined by the
   Bank.

c) Issuance of Hansa Bank US E-tender dollars will be based upon
   strict payment of equivalent amount of dollars, and applicable
   fees, using one of the following methods:

    1.  transfer from purchaser's existing USD account held with Hansa
        Bank, at no additional charge

    2.  cheque written on purchaser's USD account held with any retail
        bank in Anguilla, at nominal charge and transferable as and
        when the said cheque has cleared,

    3.  Wire or SWIFT to Hansa Bank's trading account,
        purchaser to pay all incurred fees, purchaser to provide full
        and acceptable identification details, and transaction to occur
        within 24 business hours of clear and settled funds being
        made available within Hansa Bank's trading account.

    4.  any other method suitable to banking probity and acceptable
        to the Hansa Bank.

c) Purchase will attract a percentage fee that is subject to changes
   from time to time and is published on the Contract Publication
   Page.

d) Purchase limits will be set from time to time as published on
   the Contract Publication Page.  Third-party market makers are
   encouraged to deal in lesser amounts. Hansa Bank reserves the right
   to reject any purchaser and to impose other limitations on initial
   purchases.
}

conditions_redemption = *
{
a) Redemption requests from the user must be accepted and authorised in
   advance by the Bank before funds are sent, as per c) below.

b) In order for the user to redeem Hansa Bank US E-tender dollars, user
   shall request a redemption in account or wire dollars in one of the
   following forms:

    1.  transfer to user's USD account held with Hansa Bank,
        at no charge, payable on demand,

    2.  transfer to user's USD account held with any retail bank
        in Anguilla, at nominal charge, within 24 business hours
        of approval by the Bank.

    3.  Wire or SWIFT to the user's account provided the
        user shall pay all incurred fees, user to provide
        full and acceptable identification details, and transaction
        to occur at the pleasure of the wire or SWIFT operator, or

    4.  any other method acceptable to the Hansa Bank and
        agreed by the user.

c) Once accepted, the user will be given a WebFunds Account
   number to which the user will make a secure payment of his US Hansa
   Bank E-Tender dollars in order to effect the redemption.

d) Redemption limits will be set from time to time as published on
   the Contract Publication Page.  Third-party market makers are
   encouraged to deal in smaller amounts.
}

conditions_buyback = *
{
  The Issuer reserves the right to buy back all outstanding Hansa
  Bank US E-Tender dollars, thereby terminating the use of this
  instrument and contract.  Notification of buyback shall be made
  at the Contract Publication Page Web site, and in other such media
  as the Bank in its sole discretion shall deem to be appropriate
  and adequate.  Failure by a currency holder to accept and execute
  the buyback within six months of the date of first notice shall
  allow the Bank to terminate its obligations under this contract
  by depositing the unclaimed reserve into the Anguillian Court.
}
conditions_liability = *
{
  The Hansa Bank is liable solely to the extent of performance
  according to the conditions specified in this contract.

  Hansa Bank US E-tender dollars do not constitute deposits and are
  not protected, insured or guaranteed other than by the reserve
  provisions outlined in conditions_reserves.

  Losses of Hansa Bank US E-tender dollars through theft, escheat,
  estate or otherwise constitute a loss to be borne by the user.
  Where the user cannot identify his WebFunds account or key, the
  cost of such recovery, if possible, must be borne by the user.

  Users of this contract should be aware that Hansa Bank US
  E-tender dollars are issued for microfinance and trading purposes
  only and may not be acceptable to others.
}

conditions_mint = *
{
  Float - the total quantity of Hansa Bank US E-tender dollars
  Outstanding is created by a Mint account, specially set by the
  Operator.

  Authorization to the Operator is hereby included to specially set
  one Mint account for creation of Hansa Bank US E-tender dollars, and
  to make this account publicly viewable.

  Disbursements from the Mint account are to be made on receipt of
  duly signed and public authorization from Hansa Bank.  All
  disbursements from the Mint account are to be made to the single
  Currency Comptroller account identified by that authorization.

  From time to time, the Currency Comptroller may direct the
  Currency Manager to return Hansa Bank US dollars.  Dollars so
  delivered are to be deposited into the Mint account, thus
  reducing the float by that amount.
}

conditions_privacy = *
{
  The purchase, redemption and trading of Hansa Bank US E-Tender dollars
  by users utilizes strong privacy, security and encryption.

  The exception to this is the ongoing publication of balances of,
  and transaction amounts into and out of, reserve accounts and
  Mint accounts and any Comptroller or Manager accounts as duly
  designated by the Bank to provide users with confirmation that
  these balances are being maintained.
}

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1.1                  contracts/e-tender.loc

Index: e-tender.loc
===================================================================

[local]

# alternate locations for the server info file
local_server_file_url+=http://webfunds.org/ricardo/gutenberg
local_server_file_url+=http://systemics.com/ricardo/hayek/gutenberg

#
# V3: This means that the hash is SHA1 calculated over space-stripped
# DOS lines from BEGIN to END and no funny business with the last line.
#
local_digest_version = 3

1.1                  contracts/e-tender.txt

Index: e-tender.txt
===================================================================
;
;  Hansa Bank US E-tender Dollars
;
;  Being, Demand Promises to Pay in US Dollars (USD)
;
;  As Issued by Hansa Bank & Trust Company Limited for
;  microfinance and other related purposes.