As noted in your contract we require a 30-day notice for all cancellations. After the cancellation is requested, and for the next 30 days, Payability will continue to advance your sales. After 30 days, we will suspend your account and stop advancing sales. Lastly, we wait for the next Marketplace Payment to be received to collect the outstanding balance for the previously advanced receivables.
The outstanding balance, or liability, is the difference of 'Payments Received from Marketplace' (payments Payability received from the marketplace connected to the service, such as Amazon, Walmart, Newegg) and 'Transfers/Seller Card transactions' plus 'Payability Fees' (payments Payability advanced to you plus the fees). You can review the numbers anytime on the Reconciliation View in your dashboard.
There is no fee or penalty for closing your Payability account.
You can request a cancellation anytime by writing to firstname.lastname@example.org.