Lagos–London–Houston Circle

The rules

Version 1, approved by 8 of 8 members and frozen. Code enforces every rule; the agents can’t change them.

1. Each member pays $100 every month. The whole pot goes to one member each cycle.
2. Turns go by sealed auction: the member who offers the biggest discount within their mandate collects, and the discount is shared with everyone else.
3. Whoever collects leaves one contribution behind as a deposit. It is returned when they finish the circle.
4. Each payment is authorized from the member's saved PayPal wallet 5 days before it is due and taken on the due date.
5. If a payment is missed: a reminder on the due date, 3 grace days, a 48-hour window to pay, then the deposit is used. If more is still owed, members vote (50% needed).
6. The rules change only if every member approves.

Charter hash: sha256:77f8cc46705cc4571353aa76cd294cc5e7659ee30c1c349979c2d70a327af0b5

Ask for a change

The Treasurer explains what your request would change and drafts it for every member to approve. Nothing changes until they all do.