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07-15-2020, 12:53 PM #1
- Join Date
- Jun 2020
- Posts
- 34
Iso's blocking clawbacks
Having worked as both funder and broker in this business I've encountered this from different perspectives.
While this forum has an abundance of posts discussing how funders "screwed" brokers with the commissions, there are far fewer on brokers screwing funders by not sending back the commission.
I've seen it all from
"I'm waiting on some wires"
"I'm broke"
"What do you mean it's a clawback" even though only 10 payments cleared.
The classic "I'm sending it" which never happens
To the good old ignore the funder...
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07-15-2020, 02:02 PM #2
- Join Date
- Mar 2019
- Posts
- 253
its a 2 way street
EPIC ADVANCE
Mark@epic-advance.com
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07-24-2020, 07:54 PM #3
- Join Date
- Dec 2016
- Posts
- 379
There are lawyers that will pursue clawback issues on a contingency basis. As long as your ISO Agreement is solid, that is...
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07-27-2020, 01:31 PM #4
- Join Date
- Feb 2018
- Posts
- 1,349
clawbacks during crisis wont fair well. by no fault of either the business or broker, states , counties, etc are forcing SMBs to close or lose revenue. the reverse could also happen, the broker could lawyer up to and use this as a defense, if your pushing brokers to "fund" deals with you during a current crisis, you must bear the risk
Last edited by fundingsmbs; 07-27-2020 at 01:34 PM.
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