If OC expert is requiring pre-payment of depo fee, DFC prepays and then sends us the invoice, correct?

Understanding Prepayment Invoices

Answer:

There are certain situations where a deposit is required from either buyer or seller. In such cases, you may issue a prepayment invoice, sometimes called a prepaid invoice.

A prepayment invoice is a document used to record advance payments from suppliers or clients. It contains the amount to be prepaid on a sales order and enables you to invoice deposits required from clients or sellers.

Prepayments can be calculated based either on the percentage of the total order or have a fixed amount.

Explanation:

When an OC (Original Contractor) expert requires pre-payment of a deposit fee, DFC (Direct Funding Company) can prepay the amount and then send the invoice to be settled later. This process ensures that the required deposit fee is paid upfront, allowing the project or transaction to move forward smoothly.

If a customer requests a refund on a prepayment invoice, how should it be handled?

Answer:

When a customer requests a refund on a prepayment invoice, the refund process should be initiated promptly. The refund amount should be calculated based on the terms and conditions specified in the initial prepayment agreement. Once the refund amount is determined, it should be processed through the appropriate channels and documented for record-keeping purposes.

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