> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cargotrading.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Contracts and Timelocks at Cargo Finance

> Who controls the Cargo vault contracts, how the Safe multisig and timelock work, how changes are rolled out and when the protocol can pause.

Every Cargo vault is administered through a Safe multisig behind a timelock, so changes are visible before they take effect.

## Ownership

* **Administration:** a Safe multisig. The v4 design specifies a 3-of-5 Safe (issuer director, second director, operations, independent director, security agent), with a guard that requires the independent director or the security agent to sign every transfer out.
* **Custody:** holders keep shares in their own wallets. The Safe administers contracts; it does not hold client assets.
* **Addresses:** published on the [Contract Addresses](https://docs.cargotrading.xyz/resources/contract-addresses.md) page only.

## Notice and Timelock

| Change | Notice |
| :- | :- |
| Rulebook, fees, auction parameters | 30 days |
| Risk parameters (haircuts, caps, eligible lots) | Set by the risk committee and published |
| Contract upgrades and administrative actions | Queued in the timelock before execution |
| Safety pause | Immediate |

## How a Change Is Rolled Out

**1. Propose**

The change is prepared and signed by the Safe owners.

**2. Queue**

It waits in the timelock and can be cancelled before it executes.

**3. Execute**

After the delay, it executes and the change is announced.

## Pauses

> [!WARNING]
>
> A pause guardian can suspend a batch, creations and redemptions, or minting when the NAV oracle fails, a lot shows a collateral-manager discrepancy above 0.5%, a sanctions screen hits or the chain has an incident. Minting also stops if a collateral-manager report is stale. A pause stops new activity; it does not move holders' shares.


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