Drafting the Merchant Charter -musing by a player

The bank (First Bank of Fornice) already 'owns' the ship. Hmm, I need to recalculate everything, I see. I did not foresee an additional payment towards to 'principle'. (I kind of thought one share would be issued in lieu of salary, and additional shares available for sale to generate a fund for ship operating expenses and speculative trade.)

The ship is 10 years old, and so a down payment of 20-percent was already paid, plus something on the order of 8 years of montly payments made, with 2 years of the ship being operated illegal as a smuggler having 'skipped' on its mortgage payments.

The bank is offering the 'used' ship to you on a no credits down and take over monthly payments basis. (Much to your advantage)

I think my previously calculated monthly mortgage payment-due was miscalculated.

I'll need to start over.... Or you can carry on with this. Well done I think.....

Added:

"Standard terms involve the payment of 1/240th of the cash price each month for 480 months. In effect, interest and bank financing cost a simple 120% of the final cost of the ship, and the total financed price equals 220% of the cash purchase price. The loan is paid off over a period of 40 years." added: 30 years remaining on the mortgage!

The ATHELSTONE class 200 dTon 'Far Trader', for example, costs 44 million credits new. A 20-percent down-payment (8.8mcr) was required, and subsequent payments would each be 183,334cr.

Dolores Biga will be an outside investor purchasing one share of the ship (cr61,000.) Biga will take 50% of the profits from sale of goods and passengers while the remainder rolled into operating fund(s) for the (ship.)

Proxy (vote) given to Llogan Tamm.

Subject to GM approval.

Another comment to the GM;Again I am happy to change anything for the other players.

Such as the shares, etc.

The ship's trade profits that were distributed by Dolores accounted for all group-speculative trade starting at Capon and ending at Fornice, four jumps total. That was 300,000 credits split 5-ways, so 60,000 each over the complete voyage. Operating costs were covered by the Bank of Fornice, which also took all revenue from passengers and generic 'freight'. The additional 2,000 credits each was Decherrek's 'retainer' he paid to keep the original crew from wandering off during the time the ship was being refurbished.

I do not see where the additinal 300,000cr "bank account reserves" comes from. What did I miss?"

Bronz is the only "new hire" that can currently affort a 62,000cr buy-in. I will once again suggest that one share be awarded to each as an "in lieu of salary" part of the agreement. That, I think, would be the minimum "realistic" offer a new-hire could accept. Another alternative would be that I could simply hand-wave that amount and say each new character has that in their savings and can go ahead and pay up. Perhaps that would work better.

I agree, I generated something based on an old game and looking at the breakdown of shares, the 3:1 ratio is unfair and I was looking to the other players for suggestions.
You alternative of 'hand-wave' savings as an equal share 'buy-in' would work splendidly....if that is okay with the other players

Sounds good to me

Muns,

I like the idea of leaving the Corporation Name (I guess I’m old, but irony is that playing in my head as I write this is "We Built This City" by Starship) as ATHELSTONE VENTURES LLC regardless of any future Ship’s name change…

Marconi plays the mamba, listen to the radio…

I think we definitely need to change the ship's name otherwise we might have problems getting low berth passengers at this port and perhaps the nearby systems depending upon how news travels.

Mama is just being a fly in the wall here. When the options get to 5 or less, she will cast her vote.

Tharrok grins and says, here’s a few I thought about. He types a few taps and adds to LCs list…


Fortune or Folly

Fortune’s Folly or Folly’s Fortune

Fortunate Sun ☀️ (or is that too 20th Century Terra?)

THE MERCHANT CHARTER OF THE FREE TRADER (Name yet to be Determined) formerly ATHELSTONE

Registered Vessel: IMV Athelstone
Class: Modified Far Trader (Beowulf Class Derivative)
Registry Location: Downport 2-A, Port-au-Prince, Mora Sector
Bank Title Holder: Interstellar Limited Mutual Finance, Branch 77 of First Bank of Rhylanor

I. PURPOSE OF CHARTER

This Charter formally establishes the (Ship Name yet to be Determined) as a free merchant vessel operating under Imperial Commerce Code Title 7, Section 43, licensed for legal trade and transport throughout Imperial space. This Charter defines crew shares, responsibilities, and obligations to the financial institutions underwriting the vessel.

II. CREW SHAREHOLDERS

The following personnel are recognized as full shareholding members of the Athelstone merchant crew, each holding 1 full share (equal 1/8th ownership) in the vessel and its operations:

Tharrok – Pilot

L.C. Rains – Ship’s Navigator, Ship's Legal Officer and Solicitor

Alice Petrov – Second Officer / Broker

Luis Yamamoto - Junior Broker

Llogan Tamm – Chief Engineer

Bronz Bautista – Engineer’s Mate

Leilani Nekaii – Engineer’s Mate / Maintenance Specialist

Said Ma – Chief Medical Officer / Steward

Rin Bauer – Steward / Cargo Handler

Dolores Biga - Investor (Llogan Tamm holds proxy vote)

All crew have contributed an equal investment of Cr62,000 in capital and jointly assume the obligations of the ship’s mortgage.


III. SHIP VALUATION AND DEBT STRUCTURE

Base Value of Vessel: Cr44,000,000 minus 10 years depreciation vice salvage cost and balance on loan of Cr19,720,000

Crew Capital Investment: Cr620,000 (Cr62,000 x 10)

Bank Loan (Interstellar Limited Mutual Finance, Branch 77 of First Bank of Rhylanor):

Monthly Operating Expense Estimate: Cr250,334

Monthly Loan Payment (Estimated): Cr183,334cr

All profits after expenses and loan servicing are to be divided evenly among the shareholding crew, unless amended by vote.

IV. OPERATIONS AND VOTING

Each shareholding member is entitled to one vote in decisions involving ship contracts, personnel changes, major purchases, and mission risk evaluation.

Amendments to this Charter require a two-thirds majority vote (6 out of 10 shares).

V. FINANCIAL MANAGEMENT
The Quartermaster (L.C. Rains) is authorized to manage ship accounts, contracts, and reports to both the crew and financial institution. All records shall be maintained transparently and are subject to audit.

VI. SIGNATORIES
Each below affirms their role as equal partner, investor, and active crew of the Athelstone.

(Signatures follow here in ink or digital stamp)

Filed and Recorded – Downport 2-A Merchant Registry Imperial Date: 359-1117

Mama smiles at "Miss Fortune", "That one sounds pretty good too."

His Imperial Majesty Strephon Aella Alkhalikoi, Archduke & Baron of Sylea, Marquis of Usdiki, Prime Lord of the Armed Forces, President of the Moot, Appellate Extraordinary, Defender of the Marches, 43rd Emperor of the Core, the Gateway, the Marches, Vland, Ilelish, Antares, and the Rim, K.G.C.I.H., K.S.C., K.G.C.I.T., G.C.E.G., G.C.T.I., K.C.A., K.C.A.S., K.B., K.G., K.R.A., K.I., K.S., K.D. has issued an executive memorandom to the effect that there is NO INFLATION of the value of the Imperium Credit. Not now, not in the past, and certainly not in the future. It is the bestest, most stable, and most grand currency ever devised by any sophont anywhere in the known universe.

Mama is delighted with the apparent acceptance of the name she seconded... She just might be a spinster maiden of the beautiful Miss Fortune. But we need to wait and see what the rest of the votes tally up to.

That's cool. I like the poll option

Thanks, I found it when I was scanning the earlier posts.