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;
;  Prepaid Services Dollar, Issue A.
;
;  Being, a Contract to settle USD-denominated services.
;
;  Between, Systemics Inc. and Users.
;

[definitions]

definitions_dollars = *
{
  Prepaid Services Dollar ("PSD") means the electronic
  currency, denominated in United States of America dollars
  ("USD"), as facilitated by this Ricardian contract.  Other
  dollars, which may be used as exchange for PSD, are referred
  to as Account Dollars.
}

definitions_units = *
{
  The unit of the PSD is the iota, which is defined as having
  the value of PSD 0.0001.
}

definitions_purpose = *
{
  The purpose of PSD is to facilitate the payment of services
  provided by Systemics Inc.
}

definitions_issuer = *
{
  The Issuer, Systemics Inc. (hereinafter "Systemics"), is the
  legal signatory to this master contract.  His digital signature
  is affixed to the bottom of this contract in OpenPGP form.

  The Issuer is ultimately responsible for the performance of
  this contract.  The Issuer is responsible for appointing Mint,
  Operator, Manager, Repository, and other roles as necessary.

  Systemics Inc. is a company incorporated in Nevis.
}

;
;  Following financial cryptographic convention, the Issuer
;  is sometimes known as Ivan, and is masculine.  The User is
;  primarily known as Alice, and is feminine.  Additional users
;  are Bob and Carol.
;

definitions_user = *
{
  The user is the holder of units of this contract.  The user
  becomes legal signatory to this contract when she receives a
  payment in this contract.  Her digital signature is provided
  to the Operator in a transaction facilitated by her software.
}

;
;  One such software program is WebFunds which can be
;  downloaded for free from a number of sites including
;  <http://www.webfunds.org/>
;
; Operator, Mint, and Manager are roles that are appointed by
; Issuer to fulfill the Five-Parties Model of payment system
; governance.  The other two parties are Issuer and User.
;

definitions_operator = *
{
  The Operator is responsible for the technical hosting and
  management of the Ricardian Issuance Server, the processing
  of users' transactions and other requests on the server and
  the enabling of the Mint account.
}

definitions_mint = *
{
  The Mint consists of a special account that may create value
  where before there was none, and a person, natural or legal,
  who is responsible for that account.  The Mint is appointed
  by the Issuer, and is bound to only create value under
  instruction by the Issuer, and in accordance with the terms
  of this contract.
}

definitions_manager = *
{
  The Manager is appointed by the Issuer to manage issued PSD
  transferred to his Manager's account from the Mint account.
}

definitions_float = *
{
  Float is the total quantity of units outstanding, and is
  created by a Mint account, specially set by the Operator.
}

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.
}

definitions_date = *
{
  The date of this contract between the Issuer and the user is
  that date upon which the user received each unit of value.
}

;
;  This contract is sometimes known as a Ricardian Contract,
;  a form developed by Systemics to provide a mechanism to
;  accurately express any form of contractual value suitable
;  for Internet payments.
;
;  More information about Ricardian contracts can be found at
;  <http://www.systemics.com/docs/ricardo/>
;

[entity]
;
;  Note:  In the following, Systemics Inc. may also be
;  referred to as "the Issuer" or "Systemics".
;
entity_shortname = Systemics
entity_longname = Systemics Inc. (Nevis)

entity_email = issuer@systemics.com

;
;  This contract and other information such as notices are
;  posted on the Issuer's Website at:
;     <http://www.systemics.com/ricardo/contracts/>
;  hereafter referred to as the "Contract Publication Page".
;
entity_contract_url = http://www.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 Dollar

[currency]
currency_symbol = $
currency_tla = PSD

[unit]
;
;  The Unit of Account is the PSD. This currency is denominated
;  in PSD, with an underlying unit of contract of iota, which
;  is equal to PSD 0.0001.
;
unit_power = 4
unit_mediate_power = 2
unit_major = $
unit_mediate = c
unit_minor = p
unit_major_unit = PSD
unit_mediate_unit = cent
unit_minor_unit = iota
unit_major_units = PSD
unit_mediate_units = cents
unit_minor_units = iotas

[conditions]
;
;  Whereas, the following terms and conditions apply:
;

;
;  "Backing" is defined as the sum total of everything
;  that makes units of this contract valuable to users.
;
conditions_backing = *
{
  PSD is redeemable for services rendered by Systemics.
}

conditions_limitation = *
{
  The holding of PSD 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 PSD from the
  User in exchange for Account dollars, 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 PSD to these third-party Exchange
  Providers, and agrees to redeem PSD for services provided to
  users by Systemics.
}

conditions_buyback = *
{
  The Issuer reserves the right to buy back all outstanding
  PSD thereby terminating the use of this instrument and
  contract, or to provide services settled in PSD.
  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.

  PSD 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 PSD 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.

  From time to time, the Issuer may direct the Manager to return
  PSD back to the Mint.  Value so delivered is to be deposited
  into the Mint account, thus reducing the float by that amount.
}

conditions_privacy = *
{
  The settlement of transactions in PSD is normally done with
  confidentiality.

  The routine exception to confidentiality is the ongoing
  publication of balances, as duly designated by the Issuer to
  provide users with confirmation that these balances are being
  maintained.

  A rare exception to confidentiality is when due process is
  served by a court of competent jurisdiction.
}

conditions_risk = *
{
  Risk Disclosure

  User acknowledges that use of PSD 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 PSD. No investment strategy works all the time, and Users of
  PSD should expect that there will be extended periods when the
  price of PSD will be below the price paid.

  FOREIGN EXCHANGE RISK - Users who purchase PSD 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
  PSD bear this risk. Whilst PSD exchange operators might opt to make
  a market in PSD, they are not obligated to do so.

  POLITICAL RISK - Regulation or deregulation of particular
  industries can have a material impact on the value of PSD. 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 PSD for any particular purpose.
  Users bear full responsibility for the legality of their holding PSD
  with respect to any regulation, currency control, or other statute.

  NON-DIVERSIFIED FUND RISK - PSD is not a diversified mutual fund and
  is not reserved.  The price of PSD is not guaranteed and is not expected
  to trade or exchange at par with USD. On any given day, PSD might be
  worth more or less than USD.
}

[operator]
operator_company = Systemics Inc.
;
;  Systemics Inc. is the initial contracted Operator appointed by
;  the Issuer.  The role of Operator may be transferred 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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keys_certification='

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keys_server_certification='

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[signatures]


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