Deal
From The Contingency Market
Contents |
Overview
A contingency deal is a proposal for two agents to make (postively transfer) and take (negatively transfer) an amount of each others' offered fund at a mutually agreeable split. It may be proposed by either party, or even a 3rd party such as a match-making service. Each of the two parties is notified when a deal is registered that involves one of their offers. For the deal to be closed it must be accepted by both parties. It can be rejected by either.
If both parties accept then the deal is closed and both agents are subject to the outcome of the contingency. Otherwise, unless the deal is rejected sooner, it remains undetermined until it expires (which it will by default when the contingency is determined).
API Methods
You can register a deal between any pair of compatible offers using RegisterDeal(). Frequently one will simply find a particular offer attractive and simply want to make a deal immediately which you unconditionally accept (given you are the one who made the deal and not a third party). This can be done via the AutomaticDeal() method.
You can retrieve a specific deal using GetDeal(). You can count deals using CountDeals() and list their details using ListDeals().
If you are involved in a registered deal, at some point you may be interested in accepting it or rejecting it. Corresponding methods are Accept() and Reject().
You can total all the payments that occur as a consequence of a deal using TotalPaymentsOnDeal().
Offers Remain Open
Even after a deal is accepted, each offer remains available to participate in other deals as long as neither offer limit is exceeded by all deals combined.
Completion
In order for a deal to complete all contingent events must have either been officially determined or agreeably arbitrated by both parties. If in the latter case such arbitration is later overturned, a refund is only sanctioned if both parties request it.
Execution
When a deal has completed, funds are transferred as soon as they become available.
A deal is executed when all necessary funds have been transferred. It is possible that partial payments (funds transfers) may occur in the interim, however a completed deal cannot be regarded as executed until all fund transfers specified by the deal are matched by completed payments.
