# Defaults Worldview Panama Corp, the operator of Edge protocol, enters into loan agreements with the borrowers of Master Credit Pools. Loans have a duration between 3 and 12 months, with an average duration of 6 months. The borrower pays the coupon on April 1st, July 1st, September 1st, and January 1st, within 7 days of the coupon due date. At the end of the term of the loan, the borrower would have seven business days to pay back the loan and the principal. If a borrower does not pay back within the due date, Edge will issue a delinquency notice, and the borrower will have four weeks to settle the balance. During this settlement window, the assets in the Master Pool would not be marked down, and the negotiations would often be confidential. In the same settlement window, Edge protocol would try to take possession of the underlying collateral into an escrow account. Accounting for the potential liquidation value of the collateral, Assets of the Master Pool will be marketed down after four weeks. Worldview Panama Corp records the lenders and their balances at the markdown event and if the recovered capital exceeds the marked down amount, the additional capital will be returned to the noted lenders. Most borrowers have many layers of collateral, and we expect to have full recovery once recovery process if completed. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://csigma-edge.gitbook.io/csigma-protocol/legal/defaults.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.