You can lend or borrow funds to/from other WM users
Set up trust limit for a user in your Contact List.
Trust Limit indicates how much funds you agree to lend to this uers, a loan period and interest rate.
To receive a Loan, user should agree to your terms.
He can then register a Loan at any time and receive funds to his Purse.
Ask a person from your Contact List to set up Trust Limit for you. You can then borrrow funds from him at his terms and conditions
User’s Trust Limit value shows how much funds other WM users trust him. The more users open Trust Limit to him, the higher his Trust Level is.
Loan can be returned (repaid) either in parts or in full, ahead of schedule or at the end of the Loan Period.
Debt is returned from the same Purse, where they were received to the Purse, who has issued the Loan.
If the are no enough funds at this Purse, they will be taken from other Purses, belonging to the User.
If the Borrower doesn’t have enough funds to return the Loan, funds will be taken from users in his Contact List, who opened Trust Limits to this User.
All trust transactions are registered at the Paymer Service, Paymer e-checks having legal force and can be used/presented at court.
All operations with Loans, both borrowing and repayment can be performed via Trust Service only. Important! Please, bear in mind that direct transfer form one Purse to another via WM Keeper is neither a Loan nor its repayment.
Before establishing the limits, read the recommendations to the lender!