A contractual window in which a merchant can remedy a breach before default consequences apply.
Length and availability vary considerably, and some agreements provide none for particular breaches. Whether one exists, and how long it runs, is a reasonable question to ask a funder about their paper.
Default
A merchant’s failure to meet the terms of the advance agreement, most commonly repeated missed or returned remittances.
NSF
A returned payment caused by insufficient balance in the merchant’s account.
Reconciliation
The contractual process by which a merchant can have their remittance adjusted when actual receipts fall short of what was projected.
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