Merchant Minders Loan Guaranty
The Merchant Minders Loan Guaranty is a document that is prepared and signed whenever unforeseen circumstances require a Merchant Minder team captain to lay out funds covering expenses that the hiring merchant or caravan group cannot afford while on the road. It is used to itemize the nature of the paid-for services or goods, and includes a promise-to-pay (with interest) by the merchant to the Merchant Minders.
Purpose
The Merchant Minders is an organization that provides travel support services for merchants and organizations that need to conduct trade between the Free Cities of the Frontier Lands, or between the Free Cities and the many smaller settlements deeper within the Frontier and the Feywood.
This document describes the terms by which the hiring merchant or organization agrees to repay the Merchant Minders for a particular type of "special expense" that may be incurred during the journey. Normally, the hiring party is expected to either cover all incidental expenses (lodging, food, basic maintenance and repairs for wagons and draft animals), or their particular agreement with the Merchant Minders includes a fixed-cost fee to have the Minders cover these costs. But sometimes, special circumstances arise that cannot be covered in a contract, and this is where the Loan Guaranty fits in.
Should some extraordinary circumstance arise that requires the outlay of unanticipated funds, the Master of the Merchant Minders team assigned to the contract will provide the funds (back by the good credit of the Merchant Minders organization itself) with the expectation that the hiring merchant or organization will repay them at the end of the engagement.
The Loan Guaranty prepared at the time such an expense is incurred documents the expense and the terms of repayment.
This document describes the terms by which the hiring merchant or organization agrees to repay the Merchant Minders for a particular type of "special expense" that may be incurred during the journey. Normally, the hiring party is expected to either cover all incidental expenses (lodging, food, basic maintenance and repairs for wagons and draft animals), or their particular agreement with the Merchant Minders includes a fixed-cost fee to have the Minders cover these costs. But sometimes, special circumstances arise that cannot be covered in a contract, and this is where the Loan Guaranty fits in.
Should some extraordinary circumstance arise that requires the outlay of unanticipated funds, the Master of the Merchant Minders team assigned to the contract will provide the funds (back by the good credit of the Merchant Minders organization itself) with the expectation that the hiring merchant or organization will repay them at the end of the engagement.
The Loan Guaranty prepared at the time such an expense is incurred documents the expense and the terms of repayment.
Document Structure
Clauses
Each document contains a preamble and three main sections.
The preamble contains standard language describing the purpose of the Merchant Minders and The first section essentially itemizes the goods or services for which the Merchant Minders are making payment on behalf of the hiring merchant.
The second articulates the requirements for the hiring merchant to repay what is effectively a loan. This section includes interest rates, payment due dates, etc.
The preamble contains standard language describing the purpose of the Merchant Minders and The first section essentially itemizes the goods or services for which the Merchant Minders are making payment on behalf of the hiring merchant.
The second articulates the requirements for the hiring merchant to repay what is effectively a loan. This section includes interest rates, payment due dates, etc.
Caveats
The third main clause of the document describes the consequences should the hiring merchant fail to make timely payment or simply refuses to honor the terms of the Loan Guaranty. From a legal standpoint, these consequences include the right for the Merchant Minders to confiscate property or wealth to repay the debt.
A statement is also included making it clear that the Merchant Minders will no longer do business with a merchant or trade organization that does not honor its debts. A merchant or organization that the Merchant Minders will no longer do business with is left with either the requirement to hire independent sellswords, the reputation of whom is often less than stellar. There is no other organized competition to the Merchant Minders.
A statement is also included making it clear that the Merchant Minders will no longer do business with a merchant or trade organization that does not honor its debts. A merchant or organization that the Merchant Minders will no longer do business with is left with either the requirement to hire independent sellswords, the reputation of whom is often less than stellar. There is no other organized competition to the Merchant Minders.
Hindsight? 'Twas the mistake of me life. Durin' a trade trip down to Dryad Falls, didn't two draft horses get inter some weed by the roadside that up an' killed 'em. Managed ter make it ter the next hamlet where the Minder captain bought two new beasts. I didn't want ter pay - thought we'd make the trip well enough - but the captain bought 'em anyway. Anyways... we finish the trip, and the Minders are expectin' me ter pay for them horses. Refused, I did. Since then, I'm havin' ve hathree wagons robbed by freelancers I hoped I could trust. The inns on the Edgemere Road won't extend credit no more either. I'm near to wiped out now by it all.
Historical Details
History
(this section needs to describe briefly how the Merchant Minders came to offer this as part of their services.)
Public Reaction
public reaction
universally recognized by shopkeepers, tavern/inn owners, smiths, etc.
Legacy
legacy
represents a debt that the merchant had better pay
Type
Contract, Private
Medium
Vellum / Skin
Term of Validity
Repayment requirements outlined are enforceable until payment is actually made. There is no expiration date for the obligation.Signatories
- Master of the Merchant Minder team
- the Hiring Merchant or Association
- the goods or service Provider.
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