Master Yoda
Captain
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With regards to section 7.1 of this agreement, what the company basically say is that the IB should take most of the risk while the company will get most of the profit. Yet, I understand the reasons behind this section, as many companies are being scammed by clients who falsely chargeback their deposits after losing the money. There are some cases where the IB and the customer(s) are conspiring, the customer deposits (sometimes it can be the IB using stolen cards) and after the IB commission payment the customers will make a chargeback.
However, it took the company too long to inform the IB regarding the reason behind their failure of paying him. Therefore, I suggest the company and the IB to reach for a settlement.
However, it took the company too long to inform the IB regarding the reason behind their failure of paying him. Therefore, I suggest the company and the IB to reach for a settlement.