Econ: Summit Bank Loan

bank-loan
During the trade session, you and your team will be able to take out a loan from the Summit Bank. Loans can only be secured with your country’s export coupons as collateral. Each coupon will serve as collateral for 5 WELCOs. You must hold the loan for a minimum of 15 minutes. The fee for taking out a Summit Loan is a flat rate of 5 WELCOs.

Ten points are awarded to each team that successfully takes out and the repays the Summit Loan. You must complete the transaction during the Trade Session. A 10 point deduction will be taken from each team that defaults on a Summit Loan.

Time is the scarcest resource at the Summit. Careful planning is critical for your team’s success. It’s a good idea to select one advisor on your team to complete the loan process while the rest of the team is completing trades.

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