Position Exchange

<p><strong>Sale Rules for Issuer</strong></p><h3 id="strong-repay-rule-strong"><strong>Repay rule</strong></h3><ul><li>Issuers must repay face assets within 7 days before the maturity date.</li><li>If the repayment is not completed within 7 days before the maturity date, issuers’ bonds will be liquidated, which means the collateral will be distributed to bondholders.</li></ul><h3 id="strong-bond-maintaining-rule-strong"><strong>Bond maintaining rule</strong></h3><ul><li>To maintain the bond, issuers should ensure that the LTV is less than or equal to 65%.</li></ul><h3 id="strong-liquidate-rule-strong"><strong>Liquidate rule</strong></h3><ul><li>The bond will be liquidated when its LTV reaches 80%.</li><li>When a bond is liquidated or matured, you can no longer trade it on Bond Exchange.</li><li>The system will distribute the issuer’s collateral to the holder as a percentage of holding.</li></ul><h3 id="strong-claim-assets-rule-strong"><strong>Claim Assets rule</strong></h3><ul><li>Issuers are able to claim assets when bonds are bought.</li><li>Issuers must pay issue fee when claiming assets.</li><li>Use face assets to purchase the bonds with the issue price.</li><li>Bonds will be on-sale when it reaches the on-sale phase.</li><li>Bonds will be active once sold out or at an active date. Therefore, the maturity date may be sooner than expected.</li><li>When bonds are liquidated, you can claim the underlying assets of bond issuers even though it has not reached the maturity date.</li><li>In case the issuers do not pay investment plus interest when bonds reach maturity, the bond will be liquidated, and their collaterals will be used for payment to investors.</li><li>Exchange your bonds on tab <a href="https://position.exchange/bond-exchange/PBOND-002/POSI?type&#61;bond" rel="noopener noreferrer nofollow">Exchange</a> after bonds are active.</li><li>In normal cases, bondholders can claim face assets when the bond reaches maturity.</li></ul><h2 id="header-0"><strong>Sale rules for holders</strong></h2><ul><li>Use face assets to purchase bonds</li><li>Bonds can be sold when it reaches the on-sale phase</li><li>Bonds are only active once sold out or at an active date</li><li>Bonds can be liquidated when the price reaches the liquidation price.</li><li>In this case, you can claim underlying assets of bond issuers even though it has not reached the maturity date</li><li>Exchange your bonds on tab <a href="https://position.exchange/bond-exchange/PBOND-002/POSI?type&#61;bond" rel="noopener noreferrer nofollow">Exchange</a> after bonds are active.</li><li>In case the issuers do not pay investment plus interest when bonds reach maturity, their collaterals will be used for payment to investors</li><li>YTM is the fixed interest rate of a bond that you are guaranteed to receive at the maturity date</li></ul>

P2P Bond - Sale Rules

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