Finance
Finance is the management of currency to promote progress.
Through the use of Contracts, Citizens in Eco can create loan and bond agreements between two parties, tracking automatically the interest payment and due date of the funds. Loans and bonds are a great way for new citizens to collaborate with long-time citizens with more wealth in a way that benefits both parties and increases societal progress.
If a citizen takes a loan, the offering party gives them money which they are expected to pay with interest.
If a citizen purchases a bond, they give money to the offering party which they expect to be repaid with interest.
Penalties for defaulting on loans can be constructed using Laws, by watching for the Default on Loan/Bond trigger. Actions can then be taken, such as repossessing property or applying other penalties and fines.