Repayment (Settlement)
Repayment (Settlement) is the process where a Customer (Payer or Seller) repays or settles outstanding instruments on the platform.
It is the fourth step in Fundable Instrument Workflow and marks the moment in which the funded instrument is paid/settled by the repaying party.
Reconciliation is the process of matching and verifying that customer repayments have been settled, subsequently recording these settlements in the system.
This process ensures that financial instruments are accurately marked as repaid, which in turn, automatically updates all related credit limits. It is the final step in the instrument workflow.