Repayment
Repayment (Settlement) is the process where a Customer (Payer or Seller) repays or settles outstanding instruments on the platform. This guide will walk you through the steps to initiate a repayment.
Understanding the Repayment Process
Repayment (Settlement) is the fourth step in Fundable Instrument Workflow and marks the moment in which the funded instrument is paid/settled by the repaying party.
It proceeds after an instrument is funded and moves to the Outstanding Instrument Section. Here, the Customer, Admin User, and Funder can view and filter payments based on their status and initiate repayments.
The initiated repayment will then remain visible under the Repayments section as “Repayment initiated” until the Funder confirms the payment has been received.