NEST®’s processing of finances relating to payments owed _
In registered contract which have been confidentially and directly quantified by participants, activated settlement protections authorize NEST® to deduct and transfer owed payment amounts, contract values or service and sale totals.
Following settlement ruling or initiation, owed payment amounts in any currency can be deducted or withdrawn and processed by NEST® for immediate transfer into set participant’s payout channel. Settlement is most commonly applied to situations wherein a producing or providing participant has neither independently received payment nor any tangible form of remuneration from the owing participant, whom is typically classified as the purchaser or buyer. All outstanding payment amounts are calculated according to relevant registered contract.
Settlement totals may include additional charges or costs incurred, as due to cancellation or similar penalty conditions which were set in registered contract. Tribunal rulings may only stipulate concurrent total amounts as per registered contract then owed as settlement. Settlement of registered contract, with additional charges or costs, remain independent to all third party services charges and NEST® processing fees.
