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11-14-2017, 11:37 AM #1
- Join Date
- Mar 2016
- Posts
- 186
Reverse consolidation breach of contract?
Can a merchant request to have the deployment of capital stop and just pay whatever has been deployed? Is that a brerach of contract?
Can a broker legally advise him to do that?
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11-14-2017, 11:40 AM #2
- Join Date
- Oct 2016
- Posts
- 4,318
interesting question
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11-14-2017, 11:57 AM #3
- Join Date
- Jun 2013
- Posts
- 293
No broker should advise that unless they've read the agreement. It all depends on the contract language. Theoretically, if the funder doesn't deploy all the distributions owed to the merchant than the contract hasn't been fulfilled yet. So if the merchant wanted to adjust from the original terms and stop the distributions they'd need to work that out with the funder. As someone who has done a few, I'd be very happy if one of my customers on a reverse said they didn't need my distributions anymore. I would work out a settlement amount and new payment structure to support the remaining balance.
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11-14-2017, 12:27 PM #4Disclaimer
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11-14-2017, 12:57 PM #5
- Join Date
- Apr 2016
- Posts
- 76
I've done it before with ML but got their permission before doing anything. They stopped the disbursements and the merchant paid back what he receieved plus payback. Dave is great to work with!
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11-14-2017, 01:54 PM #6
- Join Date
- Jun 2016
- Posts
- 416
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