I'm posting this now as I'm sure some of you will have questions and I would like a little time to answer them before the next set begins.
There will be a new feature next set that will allow nations to lend money to other nations. Below are the regulations:
- Any nation can lend or receive loans.
- Nations can borrow from two nations max.
- Maximum amount of money that a nation can lend/borrow - 5Billion
- Minimum amount of money that a nation can lend/borrow - 500Million
- When you receive a loan you must pay the total amount back within 10 days.
- Loans can not be granted during the last 10 days of the set.
- Only Nation leaders and those with the banking priv are able to request/accept loans.
- While a nation has an open loan, no member can be removed or leave the nation till it is paid in full.
- If you default on the loan, no member can leave or be removed from the nation for the rest of the set. Also, the Nation will NOT show on the end of round scores.
- When requesting a loan you will pick the nation to request from, the amount and you will also select a interest rate you would pay for the loan. The lending nation will receive a message with how much you are requesting and how much they will make off the loan if they accept.
- Min Interest rate is 1.5%
- Max Interest rate is 10%
- In the Nation overview you will now see that each nation has more information added. There is a credit score, amount of loans received and amount of defaulted loans.
- Each nation starts out with a 300 point credit score rating. If you pay the loan in full by the due date you will receive 50 points to your score. If you default, 200 points are removed. When deciding to accept a loan offer, nations can look at this info to see if the borrower is responsible.
-As soon as the loan is accepted the money is transferred and the due date clock begins ticking. If you don't pay by the due date the lending nation can mark the loan as default. If you pay the loan off in time, the loan is closed and your credit score increases.
- Each time you make a payment the lending nation will receive a message with the information. Nations will also be able to view the page anytime they wish to help keep track of money they borrowed and or money lent.
- You cannot over pay on a loan.
- A nation can give up to 24 extra hours for the borrower to repay the loan before marking it defaulted. If the lending nation does not do this before the 24hrs, an automatic script will mark the loan as defaulted.
- Nations who continually abuse this feature will be removed and banned from the game.
This is a nice little feature for our game. It will help those in need while also putting a little cash in your nations account while doing so. With a few of the regulations in place, it makes it a little harder for nations to abuse this feature. Yes the not being able to leave the nation while a loan is open or defaulted on is strict, but this will help feeding and nation jumping while not paying your dues. Keep it legit and you'll have nothing to worry about.