SeedIn has produced a SeedIn Collections SOP, where we have a set of procedures to follow at every stage of payment by the borrower.The basic policy outline is that;

  1. Borrowers will be updated within 7 days* prior to his actual payment date.
  2. On the actual payment date, borrowers will be prompted that payment will be due today.
  3. In the event that borrowers did not pay after the initial reminders, the borrower will be reminded to pay up for over the next 10 days*. 
  4. If all fails, we will proceed with a string of necessary actions to ensure payment from the borrowers is made.
  5. By the 61st day* of non-payment, the borrower’s facility with SeedIn will be deemed as an official default and SeedIn shall gather the investors to update them on the intended string of actions to take.

*All days mentioned are calendar days.

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