diff --git a/src/sales/SettlementSale.sol b/src/sales/SettlementSale.sol
index 257efa2..1c2e109 100644
--- a/src/sales/SettlementSale.sol
+++ b/src/sales/SettlementSale.sol
@@ -108,8 +108,10 @@ import {TokenAmount, WalletTokenAmount} from "sales/interfaces/types.sol";
 /// # Multi-Token Support
 ///
 /// This contract accepts multiple payment tokens (e.g. USDC and USDT) and tracks commitments, allocations, and refunds separately for each token.
-/// All amounts in bids and allocations represent the total value across all tokens, and the contract uses amounts interchangeably
-/// under the assumption that all tokens have the same value (e.g. all are USD stablecoins with 6 decimals).
+/// All amounts in bids and allocations represent the total value across all tokens, and the contract uses amounts interchangeably.
+/// CRITICAL ASSUMPTION: All payment tokens MUST maintain 1:1 value parity throughout the sale lifecycle (e.g. USD stablecoins).
+/// If a token depegs or loses parity, the sale SHOULD be paused immediately using the `pause()` function for further assessment.
+///
 /// When processing bids, the contract accepts a single payment token per transaction, tracking the breakdown by token internally.
 /// During refunds and withdrawals, each token is transferred separately based on the accepted amounts recorded per-token amounts during settlement.
 ///
@@ -155,27 +157,27 @@ contract SettlementSale is
     bytes32 public constant REFUNDER_ROLE = keccak256("REFUNDER_ROLE");
 
     // Initialization errors
-    error InvalidPaymentTokenDecimals(IERC20Metadata token);
-    error DuplicatePaymentToken(IERC20 token);
+    error InvalidPaymentTokenDecimals(address token, uint256 got, uint256 want);
+    error DuplicatePaymentToken(address token);
     error NoPaymentTokens();
 
     // Purchase permit validation errors
     error InvalidSaleUUID(bytes16 got, bytes16 want);
-    error PurchasePermitExpired();
+    error PurchasePermitExpired(uint256 expiresAt, uint256 currentTime);
     error BidOutsideAllowedWindow(uint64 opensAt, uint64 closesAt, uint256 currentTime);
     error InvalidSender(address got, address want);
     error UnauthorizedSigner(address signer);
 
     // Commitment submission errors
-    error BidBelowMinAmount(uint256 newBidAmount, uint256 minAmount);
-    error BidExceedsMaxAmount(uint256 newBidAmount, uint256 maxAmount);
-    error WalletTiedToAnotherEntity(bytes16 got, bytes16 existing, address addr);
-    error MaxWalletsPerEntityExceeded(bytes16 entityID, uint256 current, uint256 max);
+    error BidBelowMinAmount(uint256 amount, uint256 min);
+    error BidExceedsMaxAmount(uint256 amount, uint256 max);
+    error WalletTiedToAnotherEntity(bytes16 got, bytes16 want, address wallet);
+    error MaxWalletsPerEntityExceeded(bytes16 entityID, uint256 count, uint256 max);
     error ZeroAmount();
-    error BidAmountCannotBeLowered(uint256 newAmount, uint256 previousAmount);
-    error BidPriceCannotBeLowered(uint256 newPrice, uint256 previousPrice);
-    error BidPriceExceedsMaxPrice(uint256 bidPrice, uint256 maxPrice);
-    error BidPriceBelowMinPrice(uint256 bidPrice, uint256 minPrice);
+    error BidAmountCannotBeLowered(uint256 got, uint256 want);
+    error BidPriceCannotBeLowered(uint256 got, uint256 want);
+    error BidPriceExceedsMaxPrice(uint256 price, uint256 max);
+    error BidPriceBelowMinPrice(uint256 price, uint256 min);
     error BidMustHaveLockup();
     error BidLockupCannotBeUndone();
     error InvalidPaymentToken(address token);
@@ -183,10 +185,10 @@ contract SettlementSale is
     // Settlement errors
     error AllocationAlreadySet(bytes16 entityID, uint256 acceptedAmount);
     error AllocationExceedsCommitment(
-        bytes16 entityID, address wallet, IERC20 token, uint256 allocation, uint256 commitment
+        bytes16 entityID, address wallet, address token, uint256 allocation, uint256 commitment
     );
     error WalletNotAssociatedWithEntity(address wallet, bytes16 entityID);
-    error UnexpectedTotalAcceptedAmount(uint256 expected, uint256 actual);
+    error UnexpectedTotalAcceptedAmount(uint256 got, uint256 want);
 
     // Refund errors
     error AlreadyRefunded(bytes16 entityID);
@@ -194,27 +196,34 @@ contract SettlementSale is
     error ClaimRefundDisabled();
 
     // Withdrawal errors
-    error WithdrawalExceedsAvailable(IERC20 token, uint256 requested, uint256 available);
+    error WithdrawalExceedsAvailable(address token, uint256 requested, uint256 available);
 
     // Generic errors
-    error InvalidStage(Stage);
+    error InvalidStage(Stage got, Stage[] want);
     error ZeroAddress();
     error ZeroEntityID();
     error ZeroMaxWalletsPerEntity();
     error SalePaused();
     error EntityNotInitialized(bytes16 entityID);
-    error WalletNotInitialized(address);
+    error WalletNotInitialized(address wallet);
 
     event StageChanged(Stage indexed previousStage, Stage indexed newStage);
-    event EntityInitialized(bytes16 indexed entityID, address indexed addr);
-    event WalletInitialized(bytes16 indexed entityID, address indexed addr);
-    event BidPlaced(bytes16 indexed entityID, address indexed addr, Bid bid);
-    event BidCancelled(bytes16 indexed entityID, address indexed addr, uint256 amount);
-    event AllocationSet(bytes16 indexed entityID, address indexed wallet, IERC20 indexed token, uint256 acceptedAmount);
+    event EntityInitialized(bytes16 indexed entityID, address indexed wallet);
+    event WalletInitialized(bytes16 indexed entityID, address indexed wallet);
+    event BidPlaced(bytes16 indexed entityID, address indexed wallet, Bid bid);
+    event BidCancelled(bytes16 indexed entityID, address indexed wallet, uint256 amount);
+    event AllocationSet(
+        bytes16 indexed entityID, address indexed wallet, address indexed token, uint256 acceptedAmount
+    );
     event EntityRefunded(bytes16 indexed entityID, uint256 amount);
-    event WalletRefunded(bytes16 indexed entityID, address indexed wallet, IERC20 indexed token, uint256 amount);
+    event WalletRefunded(bytes16 indexed entityID, address indexed wallet, address indexed token, uint256 amount);
     event RefundedEntitySkipped(bytes16 indexed entityID);
-    event ProceedsWithdrawn(address indexed receiver, IERC20 indexed token, uint256 amount);
+    event ProceedsWithdrawn(address indexed receiver, address indexed token, uint256 amount);
+    event ProceedsReceiverChanged(address indexed previousReceiver, address indexed newReceiver);
+    event ClaimRefundEnabledChanged(bool enabled);
+    event MaxWalletsPerEntityChanged(uint8 previousMax, uint8 newMax);
+    event PausedStateChanged(bool paused);
+    event TokensRecovered(address indexed token, uint256 amount, address indexed to);
 
     /// @notice The state of a wallet in the sale.
     /// @dev This tracks the wallet's committed and accepted amounts for each payment token.
@@ -426,11 +435,13 @@ contract SettlementSale is
             // additional sanity check to ensure that all payment tokens have the same number of decimals,
             // so we can use amounts interchangeably (assuming they all have the same value, e.g. all are USD stablecoins)
             if (init.paymentTokens[i].decimals() != init.expectedPaymentTokenDecimals) {
-                revert InvalidPaymentTokenDecimals(init.paymentTokens[i]);
+                revert InvalidPaymentTokenDecimals(
+                    address(init.paymentTokens[i]), init.paymentTokens[i].decimals(), init.expectedPaymentTokenDecimals
+                );
             }
 
             if (_isValidPaymentToken[init.paymentTokens[i]]) {
-                revert DuplicatePaymentToken(init.paymentTokens[i]);
+                revert DuplicatePaymentToken(address(init.paymentTokens[i]));
             }
 
             _paymentTokens.push(init.paymentTokens[i]);
@@ -468,14 +479,12 @@ contract SettlementSale is
     /// @notice Moves the sale to the `Commitment` stage, allowing participants to submit bids.
     /// @dev Can be called from `PreOpen` (first open) or `Closed` (reopen after closing).
     function openCommitment() external onlyRole(SALE_MANAGER_ROLE) onlyStages(Stage.PreOpen, Stage.Closed) {
-        emit StageChanged(stage, Stage.Commitment);
-        stage = Stage.Commitment;
+        _setStage(Stage.Commitment);
     }
 
     /// @notice Moves the sale to the `Closed` stage, preventing any new bids from being submitted.
     function closeCommitment() external onlyRole(SALE_MANAGER_ROLE) onlyStage(Stage.Commitment) {
-        emit StageChanged(Stage.Commitment, Stage.Closed);
-        stage = Stage.Closed;
+        _setStage(Stage.Closed);
     }
 
     /// @notice Tracks entities that placed bids in the sale.
@@ -688,7 +697,7 @@ contract SettlementSale is
         }
 
         if (permit.expiresAt <= block.timestamp) {
-            revert PurchasePermitExpired();
+            revert PurchasePermitExpired(permit.expiresAt, block.timestamp);
         }
 
         if (permit.wallet != msg.sender) {
@@ -703,8 +712,7 @@ contract SettlementSale is
 
     /// @notice Moves the sale to the `Cancellation` stage, allowing participants to cancel their bids and receive refunds.
     function openCancellation() external onlyRole(SALE_MANAGER_ROLE) onlyStage(Stage.Closed) {
-        emit StageChanged(Stage.Closed, Stage.Cancellation);
-        stage = Stage.Cancellation;
+        _setStage(Stage.Cancellation);
     }
 
     /// @notice Cancels a bid during the `Cancellation` stage, allowing participants to cancel their bids and receive refunds.
@@ -729,8 +737,7 @@ contract SettlementSale is
     /// @notice Moves the sale to the `Settlement` stage, allowing the settler to set allocations.
     /// @dev Can be called during the `Closed` stage (skipping the cancellation stage) or the `Cancellation` stage.
     function openSettlement() external onlyRole(SALE_MANAGER_ROLE) onlyStages(Stage.Closed, Stage.Cancellation) {
-        emit StageChanged(stage, Stage.Settlement);
-        stage = Stage.Settlement;
+        _setStage(Stage.Settlement);
     }
 
     /// @notice Allows the settler to set allocations for each entity that participated in the sale.
@@ -776,7 +783,7 @@ contract SettlementSale is
             revert AllocationExceedsCommitment(
                 allocation.saleSpecificEntityID,
                 allocation.wallet,
-                token,
+                address(token),
                 allocation.acceptedAmount,
                 walletState.committedAmountByToken[token]
             );
@@ -801,7 +808,9 @@ contract SettlementSale is
         // set wallet state
         walletState.acceptedAmountByToken[token] = allocation.acceptedAmount;
 
-        emit AllocationSet(allocation.saleSpecificEntityID, allocation.wallet, token, allocation.acceptedAmount);
+        emit AllocationSet(
+            allocation.saleSpecificEntityID, allocation.wallet, address(token), allocation.acceptedAmount
+        );
     }
 
     /// @notice Moves the sale to the `Done` stage, allowing participants to claim refunds and the admin to withdraw the proceeds.
@@ -812,11 +821,10 @@ contract SettlementSale is
         onlyStage(Stage.Settlement)
     {
         if (totalAcceptedAmount() != expectedTotalAcceptedAmount) {
-            revert UnexpectedTotalAcceptedAmount(expectedTotalAcceptedAmount, totalAcceptedAmount());
+            revert UnexpectedTotalAcceptedAmount(totalAcceptedAmount(), expectedTotalAcceptedAmount);
         }
 
-        emit StageChanged(Stage.Settlement, Stage.Done);
-        stage = Stage.Done;
+        _setStage(Stage.Done);
     }
 
     /// @notice Refunds entities their unallocated payment tokens.
@@ -887,7 +895,7 @@ contract SettlementSale is
                 // increment global counters
                 entityTotalRefundAmount += refundAmount;
                 _totalRefundedAmountByToken[token] += refundAmount;
-                emit WalletRefunded(entityID, wallets[i], token, refundAmount);
+                emit WalletRefunded(entityID, wallets[i], address(token), refundAmount);
 
                 // Note: We transfer tokens within the same loop that updates state, to avoid having to recompute
                 // or store the amounts to be refunded.
@@ -931,11 +939,11 @@ contract SettlementSale is
 
         uint256 available = _totalAcceptedAmountByToken[token] - _withdrawnAmountByToken[token];
         if (amount > available) {
-            revert WithdrawalExceedsAvailable(token, amount, available);
+            revert WithdrawalExceedsAvailable(address(token), amount, available);
         }
 
         _withdrawnAmountByToken[token] += amount;
-        emit ProceedsWithdrawn(proceedsReceiver, token, amount);
+        emit ProceedsWithdrawn(proceedsReceiver, address(token), amount);
 
         token.safeTransfer(proceedsReceiver, amount);
     }
@@ -946,12 +954,15 @@ contract SettlementSale is
             revert ZeroAddress();
         }
 
+        address previousReceiver = proceedsReceiver;
         proceedsReceiver = newProceedsReceiver;
+        emit ProceedsReceiverChanged(previousReceiver, newProceedsReceiver);
     }
 
     /// @notice Sets whether wallets can claim their own refunds during the `Done` stage.
     function setClaimRefundEnabled(bool enabled) external onlyRole(SALE_MANAGER_ROLE) {
         claimRefundEnabled = enabled;
+        emit ClaimRefundEnabledChanged(enabled);
     }
 
     /// @notice Sets the maximum number of wallets that can be associated with a single entity.
@@ -960,27 +971,37 @@ contract SettlementSale is
         if (max == 0) {
             revert ZeroMaxWalletsPerEntity();
         }
+        uint8 previousMax = maxWalletsPerEntity;
         maxWalletsPerEntity = max;
+        emit MaxWalletsPerEntityChanged(previousMax, max);
     }
 
     /// @notice Pauses the sale.
     /// @dev This is intended to be used in emergency situations.
     function pause() external onlyRole(PAUSER_ROLE) {
         paused = true;
+        emit PausedStateChanged(true);
     }
 
     /// @notice Sets whether the sale is paused.
     /// @dev This is intended to unpause the sale after a pause.
     function setPaused(bool isPaused) external onlyRole(SALE_MANAGER_ROLE) {
         paused = isPaused;
+        emit PausedStateChanged(isPaused);
+    }
+
+    /// @notice Internal function to set the stage of the sale.
+    /// @dev Emits a StageChanged event and updates the stage.
+    function _setStage(Stage newStage) internal {
+        emit StageChanged(stage, newStage);
+        stage = newStage;
     }
 
     /// @notice Sets the stage of the sale.
     /// @dev This is only intended to be used in exceptional circumstances.
     /// Use with caution and consult with the Sonar team before using this function.
     function unsafeSetStage(Stage newStage) external onlyRole(DEFAULT_ADMIN_ROLE) {
-        emit StageChanged(stage, newStage);
-        stage = newStage;
+        _setStage(newStage);
     }
 
     /// @notice Returns the number of entities that have participated in the sale.
@@ -1191,17 +1212,12 @@ contract SettlementSale is
     /// @notice Recovers any ERC20 tokens that are sent to the contract.
     /// @dev This can be used to recover any tokens that are sent to the contract by mistake.
     function recoverTokens(IERC20 token, uint256 amount, address to) external onlyRole(TOKEN_RECOVERER_ROLE) {
+        emit TokensRecovered(address(token), amount, to);
         token.safeTransfer(to, amount);
     }
 
     /// @notice Checks if the contract supports an interface.
-    function supportsInterface(bytes4 interfaceId)
-        public
-        view
-        virtual
-        override(AccessControlEnumerable)
-        returns (bool)
-    {
+    function supportsInterface(bytes4 interfaceId) public view override(AccessControlEnumerable) returns (bool) {
         return interfaceId == type(ICommitmentDataReader).interfaceId
             || interfaceId == type(ITotalCommitmentsReader).interfaceId
             || interfaceId == type(IEntityAllocationDataReader).interfaceId
@@ -1218,7 +1234,9 @@ contract SettlementSale is
     function _onlyStage(Stage want) private view {
         Stage s = stage;
         if (s != want) {
-            revert InvalidStage(s);
+            Stage[] memory wanted = new Stage[](1);
+            wanted[0] = want;
+            revert InvalidStage(s, wanted);
         }
     }
 
@@ -1231,7 +1249,10 @@ contract SettlementSale is
     function _onlyStages(Stage want1, Stage want2) private view {
         Stage s = stage;
         if (s != want1 && s != want2) {
-            revert InvalidStage(s);
+            Stage[] memory wanted = new Stage[](2);
+            wanted[0] = want1;
+            wanted[1] = want2;
+            revert InvalidStage(s, wanted);
         }
     }
 
diff --git a/test/BidSubmission.t.sol b/test/BidSubmission.t.sol
index fca3555..04ea06e 100644
--- a/test/BidSubmission.t.sol
+++ b/test/BidSubmission.t.sol
@@ -268,7 +268,9 @@ contract SettlementSalePurchasePermitValidationTest is SettlementSaleBidTestBase
             price: 10,
             amount: 1000e6,
             purchasePermit: permit,
-            err: abi.encodeWithSelector(SettlementSale.PurchasePermitExpired.selector)
+            err: abi.encodeWithSelector(
+                SettlementSale.PurchasePermitExpired.selector, permit.expiresAt, block.timestamp
+            )
         });
     }
 
@@ -490,7 +492,7 @@ contract SettlementSalePurchasePermitValidationTest is SettlementSaleBidTestBase
             amount: 1000e6,
             token: usdc,
             purchasePermit: permit,
-            err: abi.encodeWithSelector(SettlementSale.PurchasePermitExpired.selector)
+            err: abi.encodeWithSelector(SettlementSale.PurchasePermitExpired.selector, expiresAt, block.timestamp)
         });
     }
 }
@@ -554,7 +556,7 @@ contract SettlementSaleBidTest is SettlementSaleBidTestBase {
             price: 10,
             amount: 1000e6,
             token: usdc,
-            err: abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Closed)
+            err: encodeInvalidStage(SettlementSale.Stage.Closed, SettlementSale.Stage.Commitment)
         });
     }
 
@@ -567,7 +569,7 @@ contract SettlementSaleBidTest is SettlementSaleBidTestBase {
             price: 10,
             amount: 1000e6,
             token: usdc,
-            err: abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.PreOpen)
+            err: encodeInvalidStage(SettlementSale.Stage.PreOpen, SettlementSale.Stage.Commitment)
         });
     }
 
diff --git a/test/Cancellation.t.sol b/test/Cancellation.t.sol
index d81d7d4..63ca856 100644
--- a/test/Cancellation.t.sol
+++ b/test/Cancellation.t.sol
@@ -87,9 +87,7 @@ contract SettlementSaleCancellationTest is SettlementSaleBaseTest {
         openCancellation();
         openSettlement();
 
-        cancelBidFail(
-            alice, abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Settlement)
-        );
+        cancelBidFail(alice, encodeInvalidStage(SettlementSale.Stage.Settlement, SettlementSale.Stage.Cancellation));
     }
 
     function testCancelBid_DuringWrongStage_RevertsOrSucceeds(uint8 s) public {
@@ -104,7 +102,7 @@ contract SettlementSaleCancellationTest is SettlementSaleBaseTest {
         if (stage == SettlementSale.Stage.Cancellation) {
             cancelBidSuccess(alice);
         } else {
-            cancelBidFail(alice, abi.encodeWithSelector(SettlementSale.InvalidStage.selector, stage));
+            cancelBidFail(alice, encodeInvalidStage(stage, SettlementSale.Stage.Cancellation));
         }
     }
 
@@ -184,10 +182,10 @@ contract SettlementSaleCancellationTest is SettlementSaleBaseTest {
         emit SettlementSale.BidCancelled(aliceID, aliceWallet2, 5000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(aliceID, alice, usdc, 2000e6);
+        emit SettlementSale.WalletRefunded(aliceID, alice, address(usdc), 2000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(aliceID, aliceWallet2, usdt, 3000e6);
+        emit SettlementSale.WalletRefunded(aliceID, aliceWallet2, address(usdt), 3000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(aliceID, 5000e6);
diff --git a/test/General.t.sol b/test/General.t.sol
index 5fbb78a..b1dd407 100644
--- a/test/General.t.sol
+++ b/test/General.t.sol
@@ -171,9 +171,7 @@ contract SettlementSaleConstructorTest is BaseTest {
         });
 
         vm.expectRevert(
-            abi.encodeWithSelector(
-                SettlementSale.InvalidPaymentTokenDecimals.selector, IERC20Metadata(address(invalidToken))
-            )
+            abi.encodeWithSelector(SettlementSale.InvalidPaymentTokenDecimals.selector, address(invalidToken), 18, 6)
         );
         new TestableSettlementSale(init);
     }
@@ -604,27 +602,41 @@ contract SettlementSaleStageTest is SettlementSaleBaseTest {
         openCommitment();
         assertEq(uint8(sale.stage()), uint8(SettlementSale.Stage.Commitment));
 
-        // Try to open commitment phase while in Commitment stage
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Commitment));
+        // Try to open commitment while in Commitment stage
+        vm.expectRevert(
+            encodeInvalidStage(
+                SettlementSale.Stage.Commitment, SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed
+            )
+        );
         vm.prank(manager);
         sale.openCommitment();
 
         // Try to open commitment phase while in Cancellation stage
         closeCommitment();
         openCancellation();
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Cancellation));
+        vm.expectRevert(
+            encodeInvalidStage(
+                SettlementSale.Stage.Cancellation, SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed
+            )
+        );
         vm.prank(manager);
         sale.openCommitment();
 
         // Try to open commitment phase while in Settlement stage
         openSettlement();
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Settlement));
+        vm.expectRevert(
+            encodeInvalidStage(
+                SettlementSale.Stage.Settlement, SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed
+            )
+        );
         vm.prank(manager);
         sale.openCommitment();
 
         // Try to open commitment phase while in Done stage
         finalizeSettlement();
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Done));
+        vm.expectRevert(
+            encodeInvalidStage(SettlementSale.Stage.Done, SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed)
+        );
         vm.prank(manager);
         sale.openCommitment();
     }
@@ -641,33 +653,42 @@ contract SettlementSaleStageTest is SettlementSaleBaseTest {
 
     function testCloseCommitment_WhenNotCommitment_Reverts() public {
         // Try to close while in PreOpen
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.PreOpen));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.PreOpen, SettlementSale.Stage.Commitment));
         vm.prank(manager);
         sale.closeCommitment();
     }
 
     function testOpenCancellation_WhenNotClosed_Reverts() public {
         // Try to open cancellation while in PreOpen
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.PreOpen));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed));
         vm.prank(manager);
         sale.openCancellation();
 
         // Try to open cancellation while in Commitment
         openCommitment();
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Commitment));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.Commitment, SettlementSale.Stage.Closed));
+
         vm.prank(manager);
         sale.openCancellation();
     }
 
     function testOpenSettlement_WhenNotClosedOrCancellation_Reverts() public {
         // Try while in PreOpen
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.PreOpen));
+        vm.expectRevert(
+            encodeInvalidStage(
+                SettlementSale.Stage.PreOpen, SettlementSale.Stage.Closed, SettlementSale.Stage.Cancellation
+            )
+        );
         vm.prank(manager);
         sale.openSettlement();
 
         // Try while in Commitment
         openCommitment();
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Commitment));
+        vm.expectRevert(
+            encodeInvalidStage(
+                SettlementSale.Stage.Commitment, SettlementSale.Stage.Closed, SettlementSale.Stage.Cancellation
+            )
+        );
         vm.prank(manager);
         sale.openSettlement();
     }
diff --git a/test/Refund.t.sol b/test/Refund.t.sol
index 4d10130..be3e389 100644
--- a/test/Refund.t.sol
+++ b/test/Refund.t.sol
@@ -74,7 +74,7 @@ contract SettlementSaleRefundsTest is SettlementSaleBaseTest {
         entityIDs[1] = bobID; // repeated
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(charlieID, charlie, usdt, 10000e6);
+        emit SettlementSale.WalletRefunded(charlieID, charlie, address(usdt), 10000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(charlieID, 10000e6);
@@ -98,7 +98,7 @@ contract SettlementSaleRefundsTest is SettlementSaleBaseTest {
         bytes16[] memory entityIDs = new bytes16[](1);
         entityIDs[0] = aliceID;
 
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Settlement));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.Settlement, SettlementSale.Stage.Done));
         vm.prank(refunder);
         sale.processRefunds(entityIDs, false);
     }
@@ -327,10 +327,10 @@ contract SettlementSaleRefundsTest is SettlementSaleBaseTest {
         entityIDs[0] = aliceID;
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(aliceID, alice, usdc, 1000e6);
+        emit SettlementSale.WalletRefunded(aliceID, alice, address(usdc), 1000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(aliceID, aliceWallet2, usdt, 1000e6);
+        emit SettlementSale.WalletRefunded(aliceID, aliceWallet2, address(usdt), 1000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(aliceID, 2000e6);
diff --git a/test/Settlement.t.sol b/test/Settlement.t.sol
index db284e1..a405b6a 100644
--- a/test/Settlement.t.sol
+++ b/test/Settlement.t.sol
@@ -33,7 +33,7 @@ contract SettlementSaleSettlementTest is SettlementSaleBaseTest {
         });
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.AllocationSet(entityID, wallet, token, amount);
+        emit SettlementSale.AllocationSet(entityID, wallet, address(token), amount);
 
         vm.prank(settler);
         sale.setAllocations({allocations: allocations, allowOverwrite: allowOverwrite});
@@ -204,7 +204,7 @@ contract SettlementSaleSettlementTest is SettlementSaleBaseTest {
             token: usdc,
             amount: 3000e6,
             allowOverwrite: false,
-            err: abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.PreOpen)
+            err: encodeInvalidStage(SettlementSale.Stage.PreOpen, SettlementSale.Stage.Settlement)
         });
 
         openCommitment();
@@ -214,7 +214,7 @@ contract SettlementSaleSettlementTest is SettlementSaleBaseTest {
             token: usdc,
             amount: 3000e6,
             allowOverwrite: false,
-            err: abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Commitment)
+            err: encodeInvalidStage(SettlementSale.Stage.Commitment, SettlementSale.Stage.Settlement)
         });
 
         closeCommitment();
@@ -230,7 +230,7 @@ contract SettlementSaleSettlementTest is SettlementSaleBaseTest {
             token: usdc,
             amount: 3000e6,
             allowOverwrite: false,
-            err: abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Done)
+            err: encodeInvalidStage(SettlementSale.Stage.Done, SettlementSale.Stage.Settlement)
         });
     }
 
@@ -244,7 +244,7 @@ contract SettlementSaleSettlementTest is SettlementSaleBaseTest {
 
         setAllocationSuccess(alice, usdc, 1000e6, false);
 
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.UnexpectedTotalAcceptedAmount.selector, 2000e6, 1000e6));
+        vm.expectRevert(abi.encodeWithSelector(SettlementSale.UnexpectedTotalAcceptedAmount.selector, 1000e6, 2000e6));
         vm.prank(admin);
         sale.finalizeSettlement(2000e6);
 
diff --git a/test/SettlementSaleBaseTest.sol b/test/SettlementSaleBaseTest.sol
index 04cf45c..6b34f68 100644
--- a/test/SettlementSaleBaseTest.sol
+++ b/test/SettlementSaleBaseTest.sol
@@ -659,4 +659,26 @@ contract SettlementSaleBaseTest is BaseTest {
         balances[1] = TokenAmount({token: address(usdt), amount: usdt.balanceOf(owner)});
         return balances;
     }
+
+    /// @notice Helper to encode InvalidStage error with a single expected stage.
+    function encodeInvalidStage(
+        SettlementSale.Stage got,
+        SettlementSale.Stage want
+    ) internal pure returns (bytes memory) {
+        SettlementSale.Stage[] memory wanted = new SettlementSale.Stage[](1);
+        wanted[0] = want;
+        return abi.encodeWithSelector(SettlementSale.InvalidStage.selector, got, wanted);
+    }
+
+    /// @notice Helper to encode InvalidStage error with two expected stages.
+    function encodeInvalidStage(
+        SettlementSale.Stage got,
+        SettlementSale.Stage want1,
+        SettlementSale.Stage want2
+    ) internal pure returns (bytes memory) {
+        SettlementSale.Stage[] memory wanted = new SettlementSale.Stage[](2);
+        wanted[0] = want1;
+        wanted[1] = want2;
+        return abi.encodeWithSelector(SettlementSale.InvalidStage.selector, got, wanted);
+    }
 }
diff --git a/test/Withdraw.t.sol b/test/Withdraw.t.sol
index 2c38f9a..6df206a 100644
--- a/test/Withdraw.t.sol
+++ b/test/Withdraw.t.sol
@@ -36,13 +36,13 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
         finalizeSettlement();
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(aliceID, alice, usdc, 3000e6);
+        emit SettlementSale.WalletRefunded(aliceID, alice, address(usdc), 3000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(aliceID, 3000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(charlieID, charlie, usdt, 10000e6);
+        emit SettlementSale.WalletRefunded(charlieID, charlie, address(usdt), 10000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(charlieID, 10000e6);
@@ -58,7 +58,7 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
         sale.withdraw();
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.WalletRefunded(bobID, bob, usdt, 4000e6);
+        emit SettlementSale.WalletRefunded(bobID, bob, address(usdt), 4000e6);
 
         vm.expectEmit(true, true, true, true, address(sale));
         emit SettlementSale.EntityRefunded(bobID, 4000e6);
@@ -106,7 +106,7 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
     }
 
     function testWithdraw_WrongStage_Reverts() public {
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Settlement));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.Settlement, SettlementSale.Stage.Done));
         vm.prank(admin);
         sale.withdraw();
     }
@@ -115,7 +115,7 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
         finalizeSettlement();
 
         vm.expectEmit(true, true, true, true, address(sale));
-        emit SettlementSale.ProceedsWithdrawn(receiver, usdc, 3000e6);
+        emit SettlementSale.ProceedsWithdrawn(receiver, address(usdc), 3000e6);
 
         vm.prank(admin);
         sale.withdrawPartial(usdc, 3000e6);
@@ -155,7 +155,7 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
 
         vm.prank(admin);
         vm.expectRevert(
-            abi.encodeWithSelector(SettlementSale.WithdrawalExceedsAvailable.selector, usdc, 10000e6, 7000e6)
+            abi.encodeWithSelector(SettlementSale.WithdrawalExceedsAvailable.selector, address(usdc), 10000e6, 7000e6)
         );
         sale.withdrawPartial(usdc, 10000e6);
     }
@@ -171,7 +171,7 @@ contract SettlementSaleWithdrawTest is SettlementSaleBaseTest {
     }
 
     function testwithdrawPartial_WrongStage_Reverts() public {
-        vm.expectRevert(abi.encodeWithSelector(SettlementSale.InvalidStage.selector, SettlementSale.Stage.Settlement));
+        vm.expectRevert(encodeInvalidStage(SettlementSale.Stage.Settlement, SettlementSale.Stage.Done));
         vm.prank(admin);
         sale.withdrawPartial(usdc, 1000e6);
     }