# order

An order is a either a lender's Offer or a borrower's Request to take one side of a loan within a set of parameters. 

Assets backing an order are held at [port](https://docs.pharosprotocol.com/plugins/port). An Order can be created at no cost by [signing](https://docs.pharosprotocol.com/bookkeeper/order-book) a standardized message containing the order details.

The [Bookkeeper](https://docs.pharosprotocol.com/bookkeeper) will then verify the signature and create a mutually valid position.

> Order Parameters
>
> * Order type (Request or Offer)
> * Accepted loan assets
> * Accepted collateral assets
> * Allowed Fillers
> * Max loan duration
> * Minimum collateralization Ratio
> * Plugins
>   * [Appraiser](https://docs.pharosprotocol.com/plugins/appraiser) (one per accepted loan asset & collateral asset)
>   * [Customs](https://docs.pharosprotocol.com/plugins/collector)
>   * [Closer](https://docs.pharosprotocol.com/plugins/closer)
>   * [Leverage](https://docs.pharosprotocol.com/plugins/terminal)
> * Borrower config (if Request)
>   * Initial collateralization ratio
>   * Leverage plugin parameters