In case of Default

Chelo Lending user guide

In an ideal world you would never need to open this section, but in real life defaults happen. A default arises when the borrower does not fully pay back the loan before the deadline. We understand that there might be many reasons behind (ranging from misunderstandings to outright fraud)

The DAO should consult among members and agree how to deal with the default, hopefully working it out with the borrower.

We have integrated some cases within our framework (see below), but please let us know if there are variations you would like to see.