# Workflow

A TermPrime loan moves through a simple lifecycle. The key property is that **both parties co-sign only once**, at origination; from that point on, the agreed terms are fixed into the contract and the rest of the lifecycle executes against that one-time authorization.

1. **Intent.** A borrower and a lender express their terms (amount, term, collateral, target rate).
2. **Matching.** The matching engine pairs compatible intents among approved counterparties and prepares a loan proposal.
3. **Proposal.** TermPrime publishes a loan proposal capturing all the economic and operational terms of the trade.
4. **Mutual signing.** The borrower and lender both accept and sign the proposal. **This is the only point in the entire lifecycle where both parties sign online together.** In this single step, they lock in all the terms of the trade: the interest amount, maturity, collateral type and amount, debt type and amount, the liquidation threshold, the protocol fee, and the roles attached to the contract.
5. **Activation (a single atomic transaction).** In one atomic transaction: the lender transfers principal to the borrower (net of any protocol fee), the collateral is handled according to the repo model, and an active loan contract is created. The terms, along with the parties' forward consent, are now fixed into the contract.
6. **Maturity.** At maturity, the loan is settled through one of the available settlement paths.

Because the parties' consent is captured once at origination and bound into the active contract, later actions (such as repayment) do not require the parties to sign again.

<figure><img src="/files/qGo21LiA8TMHJq2MaEV4" alt=""><figcaption><p>Workflow</p></figcaption></figure>


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