Parhelion Regulations / (TP) Transaction Policy
19 Mar 2023Diedericque
Article IBy standardization of protocols originating from the Interstellar Bank Initiative For Individual Balance Issues, rewritten in the following articles of this TP chapter is the binding guidance of one's behavior during a credit or cargo transaction on the Parhelion carrier (currently known as the Bank of Zaonce).
Article II
Transactions in the amount above 100.000.000 credits are to be secretly fulfilled. Correspondence between a commander and an executive banker is concluded via non-public channels and schedules a time frame which both parties see fit to completely fulfill and transact an agreed amount of credits.
Normally, a transaction should take around 10 minutes but could take as long as 30-60 minutes if, for example, the amount is 5.000.000.000 credits or more.
Longer duration of transaction could be due to providing advise, a carrier purchase or safety and privacy regulation.
Article III
In the extend of the previous article, if the transaction is done by cargo, the average represented value of the commodity + 40% is usually considered to be satisfying when this replaces a credit transaction. An option for value exchange by cargo is primarily not issued and would be reduced by an effort fee of 25%. A type of cargo transaction could range between 8 and 7280 metric tonne within the definitions of the CD chapter.
Article IV
A commander must stick to the commands that are given by the executive banker during the entire transaction time frame or period that it takes to properly fulfill the transaction even if the transfer itself already has concluded. In the event of a non-concluded credit or cargo transfer resulted from disobedience, the transfer can end with immediate effect. The receiving party may undo the transfer by returning/repaying the credits that have already been transferred. The executive banker will then consider to redo the transfer if the disobedience that lead to the repayment in the first place was unfortunate and (somewhat) acceptable.
Article V
A transfer exists out of one or multiple "value-exchangements". The executive banker is obligated to conduct the transfer as quickly as possible and with as few as possible moments of exchangement. The procedure is explained prior to the start and not moments earlier.
Because of the seriousness of this procedure and the necessity of its privacy, the operation could be done on different stations or carriers on different dates and times.
Article VI
A certificate of qualification is part of the file which states that the commander has indeed earned the indicated value(s).
FOBCS by higher decree of regulation is thereby applied to this chapter and its substantive policy. This in turn gives the information from which the providing party (being the collective of all executive bankers) can make a definite decision on the start of a credit transfer.
Commanders who are willing to partly or fully pay out the credits to someone else should consider that a different certificate of qualification must be applicable (because each one is personal). Reductions of payout will apply if the grade of the suggested person's certificate is lower than the grade of the person's certificate who initially rightfully became applicable.
Article VII
Parhelion Regulations apply aside interstellar Imperial Law but are an integral part of FOBCS regulations. Parhelion does not bear the responsibility of any consequence that comes forth out of this regulation.
The Parhelion Regulator always implements the TP chapter.
- Signed by Parhelion -