{ "units": "illustrative common asset-value units", "cases": [ { "case": "funded_recovery", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 9.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -7.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 8.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "enforce": { "action": "enforce", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 8.0, "guarantor_asset_delta": -1.0, "operator_asset_delta": -9.0, "verification_and_execution_cost": 2.0, "guarantor_payoff": -2.0, "operator_additional_breach_cost": 8.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "execution", "from": "guarantor_free", "to": "execution_provider", "amount": 1.0 }, { "state": "recovery", "from": "operator_collateral_in_guarantor_custody", "to": "guarantor_free", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 2.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "enforce" ], "enforce_advantage_over_inaction": 4.0, "execution_advantage_after_verification": 5.0, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 8.0 ], "side_payment_audit": { "credible_collection_after_proof": true, "guarantor_indifference_payment": 5.0, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": [ 5.0, 8.0 ], "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "expensive_verification", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 7, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 10, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 22.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -14.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 7.0, "guarantor_payoff": -13.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 8.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 7.0, 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"operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "enforce": { "action": "enforce", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 8.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -9.0, "verification_and_execution_cost": 8.0, "guarantor_payoff": -8.0, "operator_additional_breach_cost": 8.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 7.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 22.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 7 }, { "state": "execution", "from": "guarantor_free", "to": "execution_provider", "amount": 1.0 }, { "state": "recovery", "from": "operator_collateral_in_guarantor_custody", "to": "guarantor_free", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 2.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": -2.0, "execution_advantage_after_verification": 5.0, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": true, "guarantor_indifference_payment": 5.0, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": [ 5.0, 8.0 ], "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "valuable_continuation", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 9, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": 1.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 9.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": 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"state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "enforce": { "action": "enforce", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 8.0, "guarantor_asset_delta": -1.0, "operator_asset_delta": -9.0, "verification_and_execution_cost": 2.0, "guarantor_payoff": -2.0, "operator_additional_breach_cost": 8.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "execution", "from": "guarantor_free", "to": "execution_provider", "amount": 1.0 }, { "state": "recovery", "from": "operator_collateral_in_guarantor_custody", "to": "guarantor_free", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 2.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": -3.0, "execution_advantage_after_verification": -2.0, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "inaccessible_operator_collateral", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 0.25, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 2.5, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 9.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.5, "operator_collateral_in_guarantor_custody": 7.5, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 2.5 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 2.5, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -7.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 8.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.5, "operator_collateral_in_guarantor_custody": 7.5, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 2.5 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "enforce": { "action": "enforce", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 2.5, "operator_payment_after_breach": 2.5, "guarantor_asset_delta": -6.5, "operator_asset_delta": -3.5, "verification_and_execution_cost": 2.0, "guarantor_payoff": -7.5, "operator_additional_breach_cost": 2.5, "accounts": { "earth": 8.0, "guarantor_free": 9.5, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 11.0, "operator_collateral_in_guarantor_custody": 7.5, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "execution", "from": "guarantor_free", "to": "execution_provider", "amount": 1.0 }, { "state": "recovery", "from": "operator_collateral_in_guarantor_custody", "to": "guarantor_free", "amount": 2.5 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": -1.5, "execution_advantage_after_verification": -0.5, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 2.5, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "small_coverage", "contract": { "earth_bond": 12.0, "coverage_limit": 2, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 2, "uncovered_repair_loss": 6.0, "recoverable_collateral": 2, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -1.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": 0.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 2.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 2 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 10.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 2, "uncovered_repair_loss": 6.0, "recoverable_collateral": 2, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -2.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -1.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 2.0, "guarantor_free": 14.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 2 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 10.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "enforce": { "action": "enforce", "payout_to_earth": 2, "uncovered_repair_loss": 6.0, "recoverable_collateral": 2, "operator_payment_after_breach": 2, "guarantor_asset_delta": -1.0, "operator_asset_delta": -3.0, "verification_and_execution_cost": 2.0, "guarantor_payoff": -2.0, "operator_additional_breach_cost": 2.0, "accounts": { "earth": 2.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 19.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 2 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "execution", "from": "guarantor_free", "to": "execution_provider", "amount": 1.0 }, { "state": "recovery", "from": "operator_collateral_in_guarantor_custody", "to": "guarantor_free", "amount": 2 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 10.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 8.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": -2.0, "execution_advantage_after_verification": -1.0, "payout_to_earth": 2, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 2.0, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "no_execution_liquidity", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 5.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 12.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -7.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 4.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 12.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": { "enforce": "Verification/execution must be funded before recovery" }, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": null, "execution_advantage_after_verification": null, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "no_attribution", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": false }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 9.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -7.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 8.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": { "enforce": "No attributable covered claim supports collection/settlement" }, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": null, "execution_advantage_after_verification": null, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 0.0, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "failed_independent_trigger", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": false, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 0.0, "uncovered_repair_loss": 8.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": 1.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": 2.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 0.0, "guarantor_free": 17.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 12.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 0.0, "uncovered_repair_loss": 8.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": 0.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": 1.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 12.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": { "enforce": "No attributable covered claim supports collection/settlement" }, "best_responses": [ "ignore" ], "enforce_advantage_over_inaction": null, "execution_advantage_after_verification": null, "payout_to_earth": 0.0, "conditional_operator_costs_at_best_responses": [ 0.0 ], "side_payment_audit": { "credible_collection_after_proof": false, "guarantor_indifference_payment": null, "operator_maximum_payment": 0.0, "strictly_mutually_profitable_interval": null, "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "earth_control_lost", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 0.0, "uncovered_repair_loss": 8.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": 1.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": 2.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 0.0, "guarantor_free": 5.0, "guarantor_bond_in_earth_custody": 12.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 0.0, "uncovered_repair_loss": 8.0, "recoverable_collateral": 0.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": 0.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": 1.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 0.0, "guarantor_free": 4.0, "guarantor_bond_in_earth_custody": 12.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "close_one_claim", "from": 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10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -6.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 9.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false }, "verify_only": { "action": "verify_only", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -8.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 1.0, "guarantor_payoff": -7.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 8.0, "guarantor_free": 8.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": 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"operator_additional_breach_cost": 8.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": 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"guarantor_bond_in_earth_custody": 0.0, "operator_free": 15.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 8.0 }, { "state": "verification", "from": "guarantor_free", "to": "verification_provider", "amount": 1.0 }, { "state": "bilateral_settlement", "from": "operator_free", "to": "guarantor_free", "amount": 6 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 4.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", "amount": 10.0 } ], "asset_balance_error": 0.0, "future_margin_is_not_an_asset_transfer": true, "coverage_renewed": false } }, "unavailable": {}, "best_responses": [ "settlement" ], "enforce_advantage_over_inaction": 4.0, "execution_advantage_after_verification": 5.0, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 6.0 ], "side_payment_audit": { "credible_collection_after_proof": true, "guarantor_indifference_payment": 5.0, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": [ 5.0, 8.0 ], "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "loss_beyond_coverage", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 2.0, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 50, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 10.0, "uncovered_repair_loss": 40.0, "recoverable_collateral": 10.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -9.0, "operator_asset_delta": -1.0, "verification_and_execution_cost": 0.0, "guarantor_payoff": -8.0, "operator_additional_breach_cost": 0.0, "accounts": { "earth": 10.0, "guarantor_free": 7.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 21.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": "operator_collateral_in_guarantor_custody", "amount": 10.0 }, { "state": "funding", "from": "operator_free", "to": "guarantor_free", "amount": 1.0 }, { "state": "independent_claim", "from": "guarantor_bond_in_earth_custody", "to": "earth", "amount": 10.0 }, { "state": "close_one_claim", "from": "guarantor_bond_in_earth_custody", "to": "guarantor_free", "amount": 2.0 }, { "state": "close_one_claim", "from": "operator_collateral_in_guarantor_custody", "to": "operator_free", 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"verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" }, { "case": "tie_is_not_security", "contract": { "earth_bond": 12.0, "coverage_limit": 10.0, "operator_collateral": 10.0, "earth_control": 1.0, "collateral_access": 1.0, "verification_cost": 1.0, "execution_cost": 1.0, "continuation_margin": 6, "operator_continuation_value": 0.0, "guarantor_cash": 4.0, "operator_cash": 12.0, "fee": 1.0, "guarantor_capital_charge": 1.0, "operator_capital_charge": 0.5 }, "event": { "repair_loss": 8.0, "covered_event": true, "independent_trigger": true, "attributable": true }, "paths": { "ignore": { "action": "ignore", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 0.0, "guarantor_asset_delta": -7.0, "operator_asset_delta": -1.0, 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false }, "enforce": { "action": "enforce", "payout_to_earth": 8.0, "uncovered_repair_loss": 0.0, "recoverable_collateral": 8.0, "operator_payment_after_breach": 8.0, "guarantor_asset_delta": -1.0, "operator_asset_delta": -9.0, "verification_and_execution_cost": 2.0, "guarantor_payoff": -2.0, "operator_additional_breach_cost": 8.0, "accounts": { "earth": 8.0, "guarantor_free": 15.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 13.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 1.0, "execution_provider": 1.0 }, "initial_accounts": { "earth": 0.0, "guarantor_free": 16.0, "guarantor_bond_in_earth_custody": 0.0, "operator_free": 22.0, "operator_collateral_in_guarantor_custody": 0.0, "verification_provider": 0.0, "execution_provider": 0.0 }, "transfers": [ { "state": "funding", "from": "guarantor_free", "to": "guarantor_bond_in_earth_custody", "amount": 12.0 }, { "state": "funding", "from": "operator_free", "to": 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"enforce_advantage_over_inaction": 0.0, "execution_advantage_after_verification": 1.0, "payout_to_earth": 8.0, "conditional_operator_costs_at_best_responses": [ 0.0, 8.0 ], "side_payment_audit": { "credible_collection_after_proof": true, "guarantor_indifference_payment": 1.0, "operator_maximum_payment": 8.0, "strictly_mutually_profitable_interval": [ 1.0, 8.0 ], "verification_cost_is_sunk_here": true, "earth_payout_cannot_be_reversed_by_this_settlement": true, "bargaining_price_determined": false }, "scope": "One specified claim, complete-information cases, no automatic transfer into original M03" } ], "participation": [ { "case": "moderate_claim_frequency", "frequency_is_scenario_input": true, "breach_frequency": 0.25, "operator_contract_surplus": 4, "specified_response": "enforce", "guarantor_expected_increment": 1.0, "operator_expected_increment": 0.5, "guarantor_participates_weakly": true, "operator_participates_weakly": true, "zero_profit_fee_interval_before_liquidity_recheck": [ 0.0, 1.5 ], "nonnegative_fee_interval_exists": true, "response_optimality_and_cash_must_be_rechecked_if_fee_changes": true }, { "case": "frequent_claims_no_price_interval", "frequency_is_scenario_input": true, "breach_frequency": 0.75, "operator_contract_surplus": 4, "specified_response": "enforce", "guarantor_expected_increment": -1.0, "operator_expected_increment": -3.5, "guarantor_participates_weakly": false, "operator_participates_weakly": false, "zero_profit_fee_interval_before_liquidity_recheck": [ 2.0, -2.5 ], "nonnegative_fee_interval_exists": false, "response_optimality_and_cash_must_be_rechecked_if_fee_changes": true }, { "case": "specified_side_payment", "frequency_is_scenario_input": true, "breach_frequency": 0.25, "operator_contract_surplus": 4, "specified_response": "settlement", "guarantor_expected_increment": 1.25, "operator_expected_increment": 1.0, "guarantor_participates_weakly": true, "operator_participates_weakly": true, "zero_profit_fee_interval_before_liquidity_recheck": [ 0.0, 2.0 ], "nonnegative_fee_interval_exists": true, "response_optimality_and_cash_must_be_rechecked_if_fee_changes": true } ] }