If a Repayment was initiated but money was not received on time, the Admin/Funder can choose to Cancel the Repayment.

The instruments originally allocated for repayment will be made available once again and go back to the “Outstanding Instruments” queue and can be added to a future payment run. The interest (including late payment fees) will continue accruing through the whole process.

This mechanism is designed to edit the repayment date and provide corporate clients with additional time to fulfill their repayment obligations.

As a result, the status of these Instruments under “Outstanding Instruments” will come back to “False.

Navigate to the “Repayments” section in the Menu bar
The table will show all Instruments that have been selected for Repayment. Choose from this view the ones you wish to cancel
Click on “Cancel Repayment"

Repayments (Settlement)