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Hash: SHA1
#
# Prepaid Services EURO, psE Issue A.
#
# Being, a Contract to settle Euro-denominated services.
#
# Between, Systemics Inc. and Users.
#
[definitions]
#
# Look for this hash on the Contract Publication Page,
# based on standard.txt with the below hash here:
# http://www.webfunds.org/ricardo/contracts/
#
include = 56c72cb7b1fe56ccc5b69fb0a7b129544144cbfa
definitions_euro = *
{
Prepaid Services Euro ("psE") means the electronic currency,
denominated in Euro ("EUR"), as facilitated by this Ricardian
contract. Other euro, which may be used as exchange for psE,
are referred to as Account Euro.
}
definitions_units = *
{
The unit of the psE contract is the cent, which is defined as
having the value of psE 0.01.
}
definitions_purpose = *
{
The purpose of psE is to facilitate the payment of services
provided by Systemics Inc.
}
definitions_law = *
{
The English Common Law, as further refined by the Laws of
Anguilla shall apply to this contract, notwithstanding that
it may be determined that the contract was entered into in
a jurisdiction other than Anguilla and notwithstanding that
all or some of the parties may be citizens or residents of
another jurisdiction or jurisdictions.
All disputes arising out of use of this contract shall be
adjudicated in the Anguillan Courts.
}
[entity]
#
# Note: In this contract, Systemics Inc. may also be
# referred to as "the Issuer" or "Systemics".
#
entity_shortname = Systemics
entity_longname = Systemics Inc. (Nevis)
entity_contract_url = http://systemics.com/ricardo/contracts/
entity_contract_notices = *
{
Notices issued by the Issuer pursuant to this contract,
such as changes in contact addresses, will be published
and maintained at the Contract Publication Page.
No notice is considered valid until notice is so published.
}
[issue]
#
# This section identifies general aspects of this contract.
#
issue_type = currency
issue_name = Systemics Pre-paid Services Euro
[currency]
# Euro symbols:
# Unicode \u20AC
# UTF-8 E2 82 AC
currency_symbol = €
currency_tla = psE
[unit]
#
# The Unit of Account is the psE. This currency is
# denominated in psE, with an underlying unit of
# contract of the cent, which is equal to psE 0.01.
#
unit_power = 2
unit_major = €
unit_minor = p
unit_major_unit = psE
unit_minor_unit = cent
unit_major_units = psE
unit_minor_units = cents
[conditions]
#
# Whereas, the following terms and conditions apply:
#
conditions_backing = *
{
psE is redeemable for services rendered by Systemics.
}
conditions_limitation = *
{
The holding of psE does not entitle the holder to purchase
Systemics services. Systemics reserves the right to refuse
service to anyone for any reason, or without cause.
Systemics may, at its sole discretion, purchase psE from
the User in exchange for Account Euro, minus reasonable
and customary fees.
}
conditions_exchange = *
{
Third-party Exchange Providers will be appointed to provide
exchange services on a competitive and efficient basis.
Systemics agrees to sell psE to these third-party Exchange
Providers, and agrees to redeem psE for services provided
to users by Systemics.
}
conditions_buyback = *
{
The Issuer reserves the right to buy back all outstanding
psE thereby terminating the use of this instrument and
contract, or to provide services settled in psE.
Notification of termination shall be made at the Contract
Publication Page Web site, and in other such media as the
Issuer in his sole discretion shall deem to be appropriate
and adequate. Failure by a user to accept and execute the
termination within six months of the date of first notice
shall allow the Issuer to terminate his obligations under
this contract.
}
conditions_liability = *
{
Systemics Inc. is liable solely to the extent of performance
according to the conditions specified in this contract.
psE does not constitute deposits nor borrowings and is not
regulated, protected, insured or guaranteed other than by
the backing provisions outlined in conditions_backing.
}
conditions_mint = *
{
Authorisation to the Operator is hereby included to specially
set one Mint account for creation of psE and to make this
account publicly viewable.
Disbursements from the Mint account are to be made on receipt
of duly signed and public authorisation from Systemics Inc.
All disbursements from the Mint account are to be made to the
single account identified by that authorisation.
}
conditions_risk = *
{
Risk Disclosure
User acknowledges that use of psE for trading purposes is
risky.
User acknowledges that no statement can disclose ALL the
risk and other significant aspects of trading markets.
Users should not deal in the markets or hold speculative
assets unless they understand the nature of the
transactions that they are entering into and the extent
of their exposure to risk.
THESE RISKS INCLUDE, BUT ARE NOT LIMITED TO:
PRICE RISK - Users may lose money on investments in or
purchased with psE. No investment strategy works all the time,
and Users of psE should expect that there will be extended
periods when the price of psE will be below the price paid.
FOREIGN EXCHANGE RISK - Users who purchase psE with one
currency or asset and sell for another, bear the risk of
fluctuations in prices and exchange rates, which can be
substantial.
MARKET RISK - Prices are volatile. Users who actively buy and
sell psE bear this risk. Whilst psE exchange operators might
opt to make a market in psE, they are not obligated to do so.
POLITICAL RISK - Regulation or deregulation of particular
industries can have a material impact on the value of psE.
Laws and regulations will change over time and should be
interpreted only in light of particular circumstances. To
the fullest extent permissible pursuant to applicable law,
Systemics disclaims all warranties, express or implied,
including but not limited to implied warranties of
merchantability and fitness of psE for any particular
purpose. Users bear full responsibility for the legality
of their holding psE with respect to any regulation,
currency control, or other statute.
NON-DIVERSIFIED FUND RISK - psE is not a diversified mutual
fund and is not reserved. The price of psE is not guaranteed
and is not expected to trade or exchange at par with Account
Euro. On any given day, psE might be worth more or less than
Account Euro.
}
[operator]
operator_company = Systemics Inc.
#
# Systemics Inc. is the initial contracted Operator appointed
# by the Issuer.
# The role of Operator may be transferred by the Issuer to an
# entity that specializes in this function.
#
operator_email = issue@systemics.com
operator_sox_server_name = boulton
operator_server_file_url += systemics.com/ricardo/server/boulton
operator_server_file_url += webfunds.org/ricardo/server/boulton
operator_server_file_url += koalagold.com/ricardo/server/boulton
[keys]
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