{
  "schema": "alphaforge.borrow-execution-contract.v1",
  "classification": "engineering capability; not return or admission evidence",
  "status": "EVENT_DRIVEN_BACKTEST_INTEGRATED",
  "trial_accounting": {
    "market_data_opened": false,
    "returns_evaluated": false,
    "hypotheses_spent": 0
  },
  "implemented": [
    "point-in-time security-level borrow quote availability and validity",
    "easy, hard, and unavailable borrow states",
    "quantity-bounded granted, partial, and denied locate outcomes",
    "incremental-short locate quantity net of long inventory and existing shorts",
    "ACT/365 fee accrual over an exactly covered quote-validity interval",
    "point-in-time recall notices capped by the outstanding short",
    "forced-buy-in escalation at the explicit cover deadline",
    "optional event-driven short-entry locate denial and quantity caps",
    "optional event-driven security-level fee accrual with no-provider parity",
    "retryable recall cover orders reduced only by actual filled quantity",
    "forced-buy-in order escalation at the notice deadline"
  ],
  "invariants": {
    "future_data": "future-known borrow quotes and recall notices raise LookaheadError",
    "locate_quantity": "a grant never exceeds requested or explicitly available quantity",
    "fee_lineage": "one quote must cover the complete accrual interval",
    "recall_quantity": "cover instruction never exceeds recalled or outstanding short quantity",
    "forced_buy_in": "deadline escalation is explicit; no fill is fabricated"
  },
  "not_implemented": [
    "historical security-lending feed ingestion and vendor reconciliation",
    "broker locate reservation, release, and intraday refresh",
    "fee-rebate conventions, collateral interest, and negative rebates",
    "partial recall allocation across tax lots and strategies",
    "forced-buy-in auction, spread, impact, and fill simulation",
    "restart recovery of outstanding recall obligations across process boundaries",
    "live broker recall polling, order routing, and post-trade reconciliation"
  ],
  "claim_boundary": "These primitives prevent current borrow flags and general-collateral rates from being silently treated as historical security-level evidence. They do not prove that any historical short was locatable or that a forced buy-in could execute at a modeled price.",
  "source_sha256": {
    "implementation": "dc0f6c51824063106a162671f0a4f24fa4f3648faffbe9f9105c5ab6fa18180d",
    "tests": "c6cab19c6663d9cd202819b40114c0beb01766e2eb291e653fa25ad83e444eb5",
    "event_driven_engine": "fe2b70d304a615f44eb7cf87bb3381f383cb526fc987f2a0569db7faa4535103",
    "event_driven_tests": "496a6837e81ee976c31ba5d1e9f60540b3992a78e9f6a672d0070cbce23e4655"
  },
  "content_hash": "sha256:03ea8f703518bc906f9fef5889886b35ceb4a44c7827625e3bf8c4a1c4028f70"
}