To maintain a seamless customer experience on the platform, we aim to keep our process transparent and straightforward. In light of this, we wanted to familiarise our vendors with the various deal listing stages on the dashboard for better understanding of the KredX processes.
There are two deal listing stages:
- Deal Live Stage
- Deal Repayment Stage
Here we break down and explain these stages for ease of understanding of the deal cycle on the KredX platform.
Deal Live Stage
This is the very first stage of the deal listing process.
- The deal is uploaded on the platform by the vendor
- Post verification, the deal goes live on the platform
- Once the deal goes live, it can be purchased by our investors
While the deal is live, it can be purchased in two ways. Either a single investor purchases the entire deal or multiple investors can purchase portions of the same deal. Whatever portion the investor purchases (the entire deal or a portion of the deal), that portion of the deal is considered booked. The vendor receives the corresponding amount to the deal purchased within 2-48 hours.
When the deal is purchased by multiple investors.
Deal Amount: Rs 10 Lakh
Investor 1 purchases Rs 3 Lakh worth of the deal
Investor 2 purchases Rs 4 Lakh worth the deal, and
Investor 3 purchases Rs 5 Lakh worth of the deal
Here, the deal is divided into three portions as it is purchased by three individual investors
When the deal is purchased by a single investor.
Deal Amount: Rs 10 Lakh
Investor 1 purchases the entire deal for Rs 10 Lakh
Once the entire amount of the deal is booked, the deal is considered sold and is no longer live on the dashboard. The deal then goes to the next stage.
Deal Repayment Stage
When a deal is repaid before, on, or after the due date, the deal moves on to deal repayment stage. Since repayment can come in portions/tranches from the vendor, the process is in the below-mentioned order. In case, the deal closes before or on the due date:
- The repayment of the interest
- Followed by the principal amount
When the deal is closed after the due date, the deal moves to the grace period. Here, the vendor gets a grace period of 5 days to repay the investor. After the grace period of five days, penal interest is charged to the vendor on the amount remaining from the due date. Any repayment that comes after the grace period is adjusted in the following manner:
- Repayment of the penal interest
- Interest due to the investor is repaid
- The principal amount
At KredX, we are committed to ensuring that customers, both businesses and investors, have the best possible experience on our platform. As always, in case of any queries regarding this process or any other, patrons can reach out to us at firstname.lastname@example.org