An investor is past due when an issued capital call's due date has passed and they haven't paid their share. A payment on its way, such as an ACH payment that hasn't cleared, counts as paid, so it is never marked late. Days are counted in your workspace's time zone.
See Who Is Late
- Go to Money, then Capital Calls. Past Due Payments lists every late investor across all of your issued calls, with how many days late, the amount past due, any default, and when they were last reminded. Filter by investment, or show only Needs Approval or In Default.
- In a call, each late investor shows Past Due · 12 Days in the Status column.
- The Overview page shows Past Due Capital Call Payments under Needs Your Action, and Defaults to Approve for people who can approve finance actions.
Investors see that a call is past due on their investment page in the portal, with the number of days.
Mark an Investor in Default
Marking an investor in default takes two people.
- In the call, or in Past Due Payments, click Mark in Default on the investor's row.
- Enter the Default Date (after the due date, no later than today) and the Reason. Notes for Your Team are optional and only your team sees them.
- Click Send for Approval.
- A different team member who can approve finance actions opens the default (click its badge, or View Default) and clicks Approve Default, confirming with their password and a code. If no one else in your workspace can approve, you can approve it yourself after the same check.
Until it's approved, you can click Withdraw Request. If the investor pays in full before anyone approves, the request is withdrawn on its own. Your approval rules can require more reviewers through Mark an Investor in Default.
Default Interest
When you prepare a capital call, you can enter a Default Interest Rate. It's part of the call's reviewed terms. Once an investor is marked in default on that call, Syndelo works out the default interest they owe:
- Simple interest at the yearly rate divided by 365, on the part of the call still unpaid.
- Charged for each day from the day after the due date through the day the money arrives.
- Rounded to the cent once.
For example, $100,000 late for 30 days at 10% is $100,000 × 10% × 30 ÷ 365 = $821.92. If $40,000 arrives on day 10, interest is $273.97 for the first 10 days plus $328.77 on the remaining $60,000 for 20 days, $602.74 in total.
Default interest is shown as owed. Syndelo never charges or collects it automatically. To settle it, open the default and click:
- Record Interest Received when the investor paid it outside Syndelo, for example by wire. It isn't booked as invested capital.
- Waive Interest to forgive some or all of it.
Each needs a second person's approval, like marking the default.
Cured Defaults
A default is cured on its own once the called amount has cleared and any default interest has been received or waived. The default keeps its full history: who asked, who approved, every interest change, and the day it was cured. Each step also appears in the call's Activity and on the investor's profile.
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