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Settle an Invoice

Settlement is the final step after the debtor has paid.

When to Settle​

After you've sent a payment request and the debtor has paid the invoice, you can settle to close out the deal.

You can check whether an invoice has been paid by looking at the settlement status on your dashboard.

Steps​

  1. Find the factored invoice on your dashboard
  2. Verify the debtor's payment has arrived (the status will show "Paid")
  3. Click Settle Invoice
  4. Confirm the action

What Happens​

  • Your Factored Invoice record is consumed (closed out)
  • The settlement is recorded on-chain
  • The deal is complete

If the Debtor Doesn't Pay​

If the invoice had recourse enabled and the due date has passed:

  1. Click Initiate Recourse on the overdue invoice
  2. A Recourse Notice is sent to the business
  3. The business must repay your advance

If recourse was not enabled, the loss is yours. This is the tradeoff — non-recourse deals typically have lower advance rates to compensate for the risk.