> ## Documentation Index
> Fetch the complete documentation index at: https://whalescorp.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Settlement & Rebate Cycle

## Settlement Period (e.g. monthly)

| Stage | Description |
| :- | :- |
| Day 1–28 | Merchant activates cheques, obligation accrues |
| Day 28 | Period closes — admin generates Settlement Statement for merchant |
| Day 28–35 | Merchant reviews, transfers face value in settlement\_currency at spot FX rate |
| Day 35 | Admin confirms payment → settlement\_status = paid |
| Day 35+N | Rebate calculated and paid (N = delay\_days), Rebate Notice generate |


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