Can I cancel a trading deal if the buyer has not paid (within the 7 days invoice period)?

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According to our xChange Trading Payment Handling Terms and Conditions:

3) Payment by The Buyer
a) Payment by The Buyer to xChange must be paid (at the latest) by the Invoice Due Date and before the delivery of any Equipment (unless otherwise indicated on the Invoice). This applies to Pick-Up- as well as Gate-Buy Deals.

  • This means the Seller can actively cancel a trading deal if the buyer has not completed payment by the stated due date in the trading deal:

*Please note it can take 2-3 business days for us to receive international payments. Therefore, the deal may not immediately move to the release stage, it's always good to ask the buyer for an update in the trading deal's chat before any action.

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Will I have to pay a cancellation fee?

  • The cancellation fee is to be paid by the partner at fault and is a fee per canceled container.
  • In this case, if the buyer has not completed payment within the invoice period, they would be the partner at fault, and the partner charged with the cancellation fees would be the buyer. 
  • The fee can be seen on the Trading Platform on the deal page during the confirmation of the deal.
  • To learn more about this, you can review:

 

Where can I find the invoice?

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