MITCON Credensia acts as an independent Collection and Payout Agent, receiving collections into designated accounts and disbursing payouts to the entitled parties strictly in accordance with the agreed transaction terms and waterfall.
Scope of Service
- Structuring the collection and payout mechanism with the transacting parties
- Opening and operating designated collection / payout bank accounts
- Receiving collections and reconciling against expected amounts
- Disbursing payouts to the entitled parties as per the agreed waterfall
- Periodic reporting of collections and disbursements
Frequently Asked Questions
What does a Collection and Payout Agent do?
It independently receives collections into designated accounts and disburses payouts to entitled parties as per the agreed terms.
Is this service regulated by SEBI?
No. It is a non-SEBI regulated service, and SEBI investor-protection mechanisms are not available.
Why use an independent agent?
An independent agent adds transparency and neutrality to the flow of funds between parties, reducing the risk of disputes.
How are accounts operated?
Dedicated collection and payout accounts are opened and operated by the agent, with reconciliation against expected amounts.
How are payouts determined?
Disbursements follow the waterfall and instructions agreed in the transaction documents.
How are grievances handled?
Through MITCON Credensia's internal grievance mechanism for non-SEBI services, as the activity is outside the SEBI framework.
Have questions about Collection and Payout Agent?
Our team can walk you through structuring, fee arrangements, and compliance requirements.
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