Findom debt contracts
What is a debt contract?
A debt contract is a written document a domme uses to set the terms of payment a sub must follow. It’s written like a legal contract, but is not really legally enforceable. This document is used to reclaim any debt a sub might incur, and is also a way for a domme to assert her power over a sub.
How do subs incur debt?
If a sub runs out of available cash during a drain, asks to play a game such as a retweet game, where the amount due is unknown until the game concludes, or is simply unable to pay their domme on demand, they will owe her a debt. Debt contracts set down the guidelines for repayment of that debt.
What should a debt contract include?
While each debt contract might be slightly different, most will include the following:
Your sub’s legal name, and place of residence.
The amount the sub owes.
The terms of repayment. This could be daily, weekly, or monthly installments, or simply a time limit to repay the debt in full.
The interest rate. If you wish to charge interest on the debt, set that down in writing. Will the interest compound weekly, or monthly? Be sure this is clearly stated.
To figure out the payments with interest, use this handy calculator. Or this one, if you want something really simple.
You might also add extras, like rewards for on-time or early payments—-and fines for late payments.
Start with an initiation fee
Since you’re a domme, and you don’t work for free, your sub should pay up front for you to set up a debt contract of any kind. Get paid for your time, and for allowing them to spread their payments out. Charge an initiation fee, which should be paid beforehand. This is particularly true if you’re doing an RT game. No pay, no play. Make the up front payment large enough to ward off any time wasters.
Once they’ve paid the fee, spend time explaining the terms of your contract, and ask your sub to read the document completely before they sign. Part of the fun for many subs is the thrill of the discussion, and seeing their debit outlined on paper. If you’ve ever taken out a loan, or purchased a house, you know the vibe.
In conclusion
Debt contracts can be a lot of fun, especially when they look real and legal. There are a lot of simple contracts posted online that are easily adapted to findom. Just Google “simple contract”, and you’ll come up with plenty of sites that allow you to plug in your own info, and produce a customized document. Or, you can use this one, which was adapted from a basic loan contract.