Offer is being Closed Unsuccessfully #
investment/unsuccessfully_closed.pug - required by law/SEC
flowchart TD A[Offer and associated investments Statuses Updated to Unsuccessfully Closed] --> B(Further Investments Disabled) B --> C(Investment Status Updated to Cancelled by investor after investment) C --> D([LAW REQUIRED EMAIL : Cancellation Reason]) C --> E(Refunds Initiated Based on Original Payment Methods) E --> F(Refund Processing) F --> G([LAW REQUIRED EMAIL : Refund is being processed]) F --> H(Complete Refund to Original Payment Source) H --> I([EMAIL : Refund is completed]) H --> J(Archive Offer Details for Compliance) J --> K[Update Investor and Platform Records]
If an offer fails to reach its minimum funding target, it is considered unsuccessful. The issuer cannot access funds and must refund investors. SEC and FINRA requires the platform to notify investors and update the offering details accordingly.
The admin sets the offer status to “Unsuccessfully Closed” and disables further investments. This action archives the offer and associated investments for compliance and record-keeping.
The platform sends out required by law email notifications to all investors who committed funds to the canceled offer. The message includes the reason for cancellation, the cancellation process overview, and an estimated refund timeline. For each investor in the canceled offer, the platform updates the investment status to “Unsuccessfully closed”, voiding any agreements and removing the investments from active portfolios.
The platform automatically initiates refunds for each canceled investment. The refund process will depend on the original payment method (ACH, Dwolla Wallet, etc.). A bank transfers to return the funds to the investor’s original bank account are initiated. This process typically takes 1–3 business days. The required by law email notifies the investors that the funds are being processed.
The investors receive additional email confirmation once the funds have been successfully refunded.
Our email-service has integration with the trusted delivery and marketing platform which ensures security, compliance, and deliverability. It obust encryption and regulatory compliance (FINRA), protecting sensitive financial data and minimizing the risk of phishing or email spoofing. Additionally, third-party providers handle scalability, uptime, and automation, ensuring timely communication during high traffic periods and streamlining customer notifications.
Notice: Provider Variability and Compliance Assurance
Please be advised that, depending on customer preferences, the specific providers involved in the investment and related processes, including identity verification, accreditation checks, electronic wallet provision, email communications, and other related services, may vary. However, rest assured that all such providers are carefully selected to meet the highest standards of security, compliance with applicable laws and regulations, and user experience best practices.
Each provider undergoes a rigorous vetting process to ensure they align with our commitment to safeguarding your personal and financial information. We prioritize full adherence to regulatory requirements, ensuring that your investment experience remains secure, compliant, and seamless.
Test Cases
All processes on our platform are thoroughly documented, including detailed test cases, which are especially critical whenever changes are made. Test cases ensure that every feature functions as intended, identify potential issues early, and maintain the platform’s reliability, security, and compliance for our investors.
Related Use-Cases: