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In Corda, each state must be paired with a contract i.e., a one-to-one relationship exists between states and contracts. A contract contains the code defining the shape, content, and signer rules, along with the verification function. The code in these contracts can be drafted in JVM languages like Java/Kotlin. Contract execution is rigid and the approval of a transaction is dependent on the details of the transaction [57]. Even if a transaction acquires all the required signatures, it is valid only if it is contractually valid. For the appropriate usage of the above-mentioned states, the following four contracts are used in this solution. The contract validates the transaction and if successful, the output can reference this contract for any future verification i.e., in the future, any participant having access can trace back for verification. The additional benefit in Corda is that it allows the smart contract to accommodate legal prose, namely smart legal contracts (implying to Ricardian contracts). The contracts used in this solution are described below.