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And your revocable bank payment is a bank payment that cannot be rescinded. The advantage to the seller is once the payment is issued, it cannot be canceled.

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11y ago

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Related Questions

What is IMFPA?

Irrevocable Master Fee Protection Agreementwhere you as buyer's or seller's mandatatry, who signs this IMFPA with either the seller or the buyer for claiming your commission.


Where does the down payment go - to the seller or the bank?

The down payment goes to the seller when you buy a house.


Does the seller receive the down payment?

Yes, the seller typically receives the down payment from the buyer as part of the purchase agreement.


Is the private car seller only accepting cash as payment?

Yes, the private car seller is only accepting cash as payment.


What is an LC payment?

An LC payment, or Letter of Credit payment, is a financial instrument used in international trade to ensure that payment will be made to the seller upon fulfillment of specified conditions. The buyer's bank issues the LC, guaranteeing payment to the seller's bank once the seller provides the required documentation, such as shipping and invoice details. This method reduces risk for both parties, as the buyer is assured that payment will only be made when the agreed terms are met, while the seller gains security in receiving payment.


When the seller is paid the customers payment is?

When the seller is paid, the customer's payment is typically processed through a payment gateway or financial institution, which verifies the transaction and transfers the funds. Once the payment is confirmed, it is credited to the seller's account, completing the exchange. This process ensures that both parties fulfill their obligations in the transaction.


When the seller is paid the customer's payment is...?

When the seller is paid, the customer's payment is typically processed through a payment gateway or financial institution, transferring funds from the customer's account to the seller's account. This transaction may involve various steps, including authorization, settlement, and confirmation. Once completed, the seller receives the payment, and the customer’s account reflects the deduction. Additionally, the seller may receive a notification of the successful transaction for record-keeping purposes.


When the seller is paid the customer payment is?

When the seller is paid, the customer payment is considered complete, and the transaction is finalized. This typically involves the transfer of funds from the customer's account to the seller's account, thereby confirming the exchange of goods or services. The seller may then issue a receipt or confirmation of the sale to the customer. In accounting terms, this payment reflects a reduction in the customer's liabilities and an increase in the seller's revenue.


What are some of the advantages of a merchant accepting payment for services through PayPal?

There are many advantages for a merchant who accepts PayPal payments. Some of them are that the seller benefits from security of collection; moreover, the small seller can save because PayPal only charges a small transaction fee.


Why is Paypal payment status showing completed but seller is claiming payment pending is this normal?

PayPal payment status showing as completed typically means that the funds have been successfully transferred from the buyer's account to the seller's account. However, if the seller is claiming that the payment is pending, it could be due to several reasons such as the seller's account being new or having certain limitations, potential issues with the seller's PayPal account, or the possibility of a payment review or hold by PayPal for security reasons. It is advisable for the buyer and seller to communicate directly with PayPal to resolve any discrepancies and ensure a smooth transaction.


Can bank issue ICBPO?

Yes, banks can issue Irrevocable Confirmed Bank Payment Orders (ICBPOs). An ICBPO serves as a guarantee that a bank will make payment on behalf of its client, ensuring that the seller receives the payment once specific conditions are met. This instrument is often used in international trade to enhance security and trust between buyers and sellers. However, the issuance of ICBPOs is subject to the bank's policies and the regulatory framework governing such financial instruments.


How do you pay on bricklink?

On BrickLink, you can pay using various methods depending on the seller's preferences. Common payment options include PayPal, credit or debit cards, and sometimes bank transfers. After you confirm your order, you'll receive instructions from the seller on how to complete the payment. Always check the seller's accepted payment methods listed in their store profile before making a purchase.