If an issuer pays late or defaults
If an issuer pays late, the note status on your investment updates on the Malaysia calendar. This is not a recovery promise. CashSouk will keep you informed. Default is never automatic — CashSouk confirms it.
Day counts
Usual platform settings (a note can differ):
- Grace — 7 days after the due date. The investment shows overdue and no late charges apply yet.
- Arrears — after grace plus the arrears threshold (default 14 days after grace, so 21 days after the missed due date with standard settings).
Days past due appear on the investment when the note is past due. Read those figures if they differ from the defaults.
What the statuses mean
- Overdue — the due date has passed. The issuer is still inside the grace period. No late charges apply yet.
- Late — grace has ended. You may receive a late notice.
- Arrears — the note has passed the arrears threshold. Servicing continues.
- Default — CashSouk has marked the note as default. Check the investment for updates on recovery.
Returns
Contractual profit does not increase because a note is late. Any approved Ta'widh share for investors is added only when settlement is posted.