Scheme debtors is the account that records all transactions between iExchange and yourself, both in terms of exchange fees, and points.
Scheme Debtors explained
You have 2 accounts on your Scheme Debtors profile:
- This account will reflect all transactions between your Scheme and iExchange.
- Please be sure to manage your points balance: you are required to have available points (reflected as a negative) in order to transact.
- Please be sure to bank with iExchange well in advance to ensure continuity of bookings. Speak to your Business Development Consultant for any assistance.
- As exchanges are made your points account will be debited, and as you bank inventory to iExchange (or as iExchange books inventory available to it by virtue of Inventory Usability Rules you would have approved), your account will be credited.
If you have banked inventory to your own scheme, available to iExchange, your Scheme Debtor account will be automatically credited as inventory is booked by iExchange.
- This account will reflect all transactions between your Scheme and iExchange ie the charge of exchange fees, and if applicable the credit thereof in respect of permitted cancellations.
- Any other financial charge between yourself and iExchange will reflect on this account.
- Unless detailed otherwise, your account is managed on a strict 30 day process, and is required to be paid before due date to ensure booking continuity.
- Your agreement with iExchange would have also allowed for a credit value, therefore if exchanges exceed your approved credit line, please contact your Business Development Consultant, or facilitate payment.
A combined statement that details both points and financial transactions will automatically be sent to you every Monday, and month end.
IMPORTANT: It is your responsibility to check the statement and report any variances within 3 working days thereof, failing which the transaction is deemed correct.
Cancellation of exchanges: your agreement with iExchange details the period within which you may cancel an exchange for full credit of both the exchange fee and points. Please be sure to understand how to manage this by either speaking to your Business Development Consultant, or referencing the following articles: Making a Booking or Exchange Inventory Usability Rules