> For the complete documentation index, see [llms.txt](https://docs.eiva.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.eiva.money/settlement-and-late-payment.md).

# Settlement and late payment

On the due date the payer pays the invoice in full \[into Eiva's collection account: Alpha]. Eiva's fee is taken, the remainder goes to the creative, and the funded amount returns to the vault as USDC. The ledger row for that invoice changes from funded to settled.

Across the invoices funded so far, this has taken 23 days on average against a planning assumption of 27.

## When a payer is late

Depositors' interest doesn't change. The rate is fixed and owed by the issuer regardless of any one invoice. A late payer changes Eiva's margin and the reserve, not your schedule. Payers that settle late are charged a late fee. \[Late fee amount and terms: Alpha]

It can slow standard withdrawals from Open and redemptions of the fixed notes, because those are paid as invoices settle. See [Withdrawals and redemptions](/withdrawals-and-redemptions.md).

The first days: \[chasing process, reminders, contact with the payer's accounts team, extension terms and what the creative is told: Alpha]

After that: \[recourse against the creative, enforcement of the assignment, and when the invoice is written down: Alpha and solicitor]

If a loss is recognised, the reserve absorbs it first. See [The reserve](/the-reserve.md).


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.

Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:

```
GET https://docs.eiva.money/settlement-and-late-payment.md?ask=<question>&goal=<user_goal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.