Regularly we are asked about the Notice of Intent [NoI]. This is an introduction letter that explains who Credebt Exchange® are and why you’ve chosen to partner with us. The Notice of Assignment [NoA] is a separate letter that is attached to each and every invoice/ETR when it is being sent to your Debtors/customers. The Notice of Intent/NoI letter is only sent once to the Debtor/customer and is not sent again.
Many of the recipients of the NoI do not reply to the letter and there’s nothing you as the Originator, or indeed Credebt Exchange®, can do to change this. Our processes and procedures consider this real world fact and simply issuing the NoI, with no response from the customer/Debtor is sufficient. What usually happens is the Debtor simply changes the bank details on the Originator account from their previous bank details to the Credebt Exchange® bank account details and you don’t know about it until payment’s are received.
Regarding the Notice of Assignment/NoA, this is automatically sent with every invoice/ETR. There is no action required by you as the Originator, this happens when you submit the ETR to the Trade Floor. The ETR is stamped and sent to the Debtor contact you entered when entering the Debtor’s information on the Exchange. Your Debtor contact receives your invoice by email (or by post) and the NoA is simply attached at the end. As stated, this happens automatically and doesn’t require any action on the part of the Originator.
For more details read the Notice of Intent [NoI] article.