Any request for a reversal of any payment received by a Debtor that is paid into the Credebt Exchange® Account Bank must be submitted in writing on official headed paper from the Originator. This can be submitted via email to the Trade Desk, however it is more efficient to use the Transaction Update facility, accessible from the Exchange Trade Centre | Dash Board.
In all instances where Credebt Exchange® receives a payment from a Debtor, it must be returned, in whole, to the Debtor unless the documentation submitted by the Originator clearly shows that the amount received is due to the Originator. In such instances, before diverting the payment and releasing the funds to the Originator, an invoice(s), statement, letter, email or other communication that specifically references the exact amount received by Credebt Exchange® Account Bank must be provided. On receipt and verification of this information, Credebt Exchange® Account will release the funds to the Originator.
For reasons relating to proper title and ownership, in the absence of any documentation being received within 72-hours of the funds being received into the Credebt Exchange® Account Bank, the funds will be returned, in whole, to the Debtor that sent the payment.