Most of the paper in this market has been sold five times before it reaches you. We built the exchange so that cannot happen, and so the broker who does the work is the broker who gets the flow. The rules are short because they are enforced, not explained.
Every file was called by our team within 24 hours and the merchant agreed to be presented to one broker.
Taking a file starts a 48 hour clock. No update by then and it moves to the next seat in rank.
No seat fee, no file fee. The exchange earns 2 percent of each funded amount, including renewals for 12 months. On a funding above $100,000 it is 2 percent or a quarter of your commission, whichever is less.
Your next batch opens when every file in the current one has a status. Marking status is your only duty besides closing.
Every Monday, seats are ranked on last week's paid commission per file received. Paper goes out top down.
Every seat starts at 20 files a day. Tiers step to 50, 100 and 200 on results, never on request.
We check UCC filings on every file at two and four weeks and call merchants. A funding we find that you did not report ends the seat, after you have had five business days to answer with the contract.
Statements are watermarked to you. Every batch carries markers. A file found outside the exchange ends the seat.
Enrichment Capital, which operates the exchange, does not take files from it. Your agreement says so.
Monday's statement is paid by Friday. Unpaid, the seat is frozen. Two weeks unpaid, it is closed.