Quote Originally Posted by Michael I View Post
agreed i had a clawback from a company from someone that missed a payment in the first 30 days . missed a couple of more throughout the term and fully paid off 2 weeks behind schedule on a 9 month term . The company renewed and were still not paying me on the first due to their iso agreement . I did get paid on the renewal and no longer work with that funder.
Bottom line make sure a default means where they dont get paid or sell it to a third party collection service .

Side note , any agreement that has multiple types of default like above usually means you are dealing with an iso
So the first deal paid off, but they didn't send back the commission they clawed back? That's insane and unfair, especially cuz the funder still made money on the deal. I've had situations where merchant defaulted and I needed to clawback from an ISO, but multiple times, we get the merchant back on track and they pay off. Once the deal reaches "profit" we send the commission back out to the ISO