• 2 days prior to running the direct debit, MarketLend system sends an e-mail to each customer advising them of the amount of the direct debit to be processed against their account.
  • All direct debits are processed directly into the Trust Collections Account – minimising co-mingling risk
  • Dishonour borrowers receive an e-mail notification of their direct debit dishonour 1 day after the monthly direct debit run.
  • Direct Debit(DD) will be re-run the following day;
  • $35 dishonour charge applied;
  • MarketLend or its assigns is responsible to follow up the pharmacy and seek to resolve the issue to enable the DD to run successfully on the second occasion. If payment is offered to supplier it is not to accept any payments from the customer directly. The supplier is obliged to direct the payee to make any payment directly into the Trust.
  • To the extent that the Trust received payments from borrowers relating to non-purchased Trust receivable, these will be held on Trust for supplier and remitted on next invoice payment date subject to any dilution setoff.
  • A direct debit dishonour report is produced and sent to MarketLend 1 day after the monthly direct debits are run.