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What are the four factors of payment?

Updated: 4/28/2022
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14y ago

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The four factors to make a payment.

1. Confirm Purchase - Is what you received what you were billed for, and is it in the expected condition? Plus, is the charge the agreed upon amount? Selling price, tax, shipping, extra fees, etc.? If the answer to any of these questions is "no", STOP! call the company to resolve any problems BEFORE you make a payment. Making a payment could unknowingly confirm acceptance of the item(s) as-is.

2. Payable Amount -
How much should you make the check out for? Pay the full bill, a minimum amount, partial payment, or installments? This will depend on bank balance, your budget, preset agreement with seller, and preset payable policies.

3. Payable To - Who do you make the check out to? The store/company you made the purchase from (this could be a third party), the product's company, or one of their parent companies?

4. Mailing Address -Where do you mail the check? Where you purchased the product, its home office, the product's home office, or a processing center?

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