{
  "policy": {
    "values": {
      "tolerance_bp": 1000,
      "floor_cents": 2500,
      "absolute_floor_bp_exempt_cents": 5000,
      "bonus_bp": 250,
      "bonus_inner_bp": 300,
      "bonus_cap_cents": 7500,
      "late_reveal_penalty": "counterparty_amount",
      "index_name": "SC-COMP-A"
    },
    "policy_hash": "f5bbc16aaba884177e6581aa528aa6b84c489aa842e592a9998909154ed5c0c1"
  },
  "commitment_vector": {
    "input": {
      "round_id": "R-2026-08-0417",
      "asset_id": "SC-LT-000391",
      "party_id": "ACME-HOLDINGS",
      "role": "holder",
      "amount_cents": 42000,
      "grade": "B2",
      "nonce_hex": "a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1"
    },
    "commitment": "f40ccaef3378cbfb0574d0499f8a8d3bfd35d2990edcf7943e5f163ed2db9165",
    "reveal_verifies": true,
    "wrong_amount_rejected": true,
    "wrong_round_rejected": true,
    "role_swap_rejected": true
  },
  "settlement_vectors": [
    {
      "case": "TV-1  inside band, midpoint",
      "holder_cents": 42000,
      "inspector_cents": 39000,
      "index_cents": null,
      "spread_bp": 769,
      "outcome": "auto_settled",
      "amount_cents": 40500,
      "bonus_cents": 0,
      "total_cents": 40500,
      "reason": "spread 769 bp within 1000 bp band; midpoint settlement"
    },
    {
      "case": "TV-2  identical, bonus paid",
      "holder_cents": 40000,
      "inspector_cents": 40000,
      "index_cents": null,
      "spread_bp": 0,
      "outcome": "auto_settled",
      "amount_cents": 40000,
      "bonus_cents": 1000,
      "total_cents": 41000,
      "reason": "spread 0 bp within 1000 bp band; midpoint settlement; verified-condition bonus 250 bp (self-grade inside 300 bp)"
    },
    {
      "case": "TV-3  edge: exactly 1000 bp",
      "holder_cents": 44000,
      "inspector_cents": 40000,
      "index_cents": null,
      "spread_bp": 1000,
      "outcome": "auto_settled",
      "amount_cents": 42000,
      "bonus_cents": 0,
      "total_cents": 42000,
      "reason": "spread 1000 bp within 1000 bp band; midpoint settlement"
    },
    {
      "case": "TV-4  just outside band",
      "holder_cents": 44100,
      "inspector_cents": 40000,
      "index_cents": 41500,
      "spread_bp": 1025,
      "outcome": "escalated",
      "amount_cents": 41500,
      "bonus_cents": 0,
      "total_cents": 41500,
      "reason": "spread 1025 bp exceeds 1000 bp band; settled at SC-COMP-A index",
      "index_amount_cents": 41500
    },
    {
      "case": "TV-5  far apart, index clamped low",
      "holder_cents": 90000,
      "inspector_cents": 30000,
      "index_cents": 20000,
      "spread_bp": 20000,
      "outcome": "escalated",
      "amount_cents": 30000,
      "bonus_cents": 0,
      "total_cents": 30000,
      "reason": "spread 20000 bp exceeds 1000 bp band; settled at SC-COMP-A index (clamped into revealed range)",
      "index_amount_cents": 20000
    },
    {
      "case": "TV-6  inner band, bonus + cap",
      "holder_cents": 41000,
      "inspector_cents": 40000,
      "index_cents": null,
      "spread_bp": 250,
      "outcome": "auto_settled",
      "amount_cents": 40500,
      "bonus_cents": 1013,
      "total_cents": 41513,
      "reason": "spread 250 bp within 1000 bp band; midpoint settlement; verified-condition bonus 250 bp (self-grade inside 300 bp)"
    },
    {
      "case": "TV-7  low-value exemption",
      "holder_cents": 4000,
      "inspector_cents": 3200,
      "index_cents": null,
      "spread_bp": 2500,
      "outcome": "auto_settled",
      "amount_cents": 3600,
      "bonus_cents": 0,
      "total_cents": 3600,
      "reason": "low-value exemption: absolute gap 800c within 2500c"
    },
    {
      "case": "TV-8  non-reveal default",
      "holder_cents": 38500,
      "inspector_cents": null,
      "index_cents": null,
      "spread_bp": 0,
      "outcome": "defaulted",
      "amount_cents": 38500,
      "bonus_cents": 0,
      "total_cents": 38500,
      "reason": "counterparty failed to reveal before deadline; settled at revealing party's amount, no bonus"
    }
  ],
  "chain": {
    "entry_0_hash": "5472ffe25bd5e7e2f2cbfc38351017781c8280d6f14670c4c3bbb246c787f133",
    "entry_1_hash": "375e31cf0216123658529e6575925543c865b83964def4393a34625b8b1ae1ad",
    "entry_1_prev": "5472ffe25bd5e7e2f2cbfc38351017781c8280d6f14670c4c3bbb246c787f133",
    "head": "375e31cf0216123658529e6575925543c865b83964def4393a34625b8b1ae1ad",
    "verifies": true,
    "detects_tamper": true
  }
}