Zero coupon bond

This contract is the archetype version of the contract taken from the Findel paper (Financial Derivatives Language).
Suppose Alice sells to Bob a zero-coupon (i.e., paying no interest) bond that pays $11 in one year for $10.
The findel expression below describes this contract:
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And ( Give( Scale( 10; One( USD ))); At( now+1 years; Scale( 11 ; One( USD ))))
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zero_coupon_bond.arl
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archetype zero_coupon_bond
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​
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variable issuer : role  = @tz1bfVgcJC4ukaQSHUe1EbrUd5SekXeP9CWk (* seller 'Alice' *)
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​
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variable owner : role = @tz1Lc2qBKEWCBeDU8npG6zCeCqpmaegRi6Jg
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(* buyer 'Bob'; receives 11 tez in one-year *)
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​
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​
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variable price : tez = 10tz
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​
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variable payment : tez = 1.1 * price
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​
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variable maturity : date = 2020-12-31
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​
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states =
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  | Created initial
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  | Confirmed (* owner has purchased bond *)
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  | Repaid    (* issuer has transferred payment to contract *)
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  | Collected (* owner has collected payment *)
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​
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transition confirm () {
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  specification {
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    postcondition s1 {
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      balance = 0tz
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    }
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  }
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​
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  from Created
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  to Confirmed
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  when { transferred = price }
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  with effect {
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    maturity := now + 365d;
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    transfer price to issuer
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  }
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}
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​
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transition repay () {
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  called by issuer
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​
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  from Confirmed
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  to Repaid when { transferred = payment }
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}
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​
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transition collect () {
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  called by owner
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​
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  from Repaid
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  to Collected
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  when { now >= maturity }
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  with effect {
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    if balance >= payment
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    then transfer balance to owner
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  }
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}
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​
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Zero coupon with insurance

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