The path
An order is a client's commitment to buy fractions of a listing. Each gets a number such as EH-000123. The usual path is:
- Submitted: the client (or you, on their behalf) places the order. You are emailed.
- Awaiting payment: you approve it and set the allocation. The client gets the payment instructions and a deadline.
- Funded: the money has arrived and you have recorded it. The paid amount is at least what is due.
- Settled: you issue the fractions. The ledger and the cap table update, and the client gets a certificate.
Other outcomes
| Status | Meaning | Fractions held |
|---|---|---|
| Submitted | Waiting for you. | Reserved at submit for first-come listings |
| Waitlisted | Kept in line but not reserved. You can approve it later. | None |
| Awaiting payment | Approved. Waiting for the money. | Yes |
| Funded | Fully paid. Ready to settle. | Yes |
| Settled | Fractions issued. Final. | In the cap table |
| Rejected | You declined it. The client sees your reason. | None |
| Cancelled | Withdrawn before settlement. | Released |
| Expired | Not paid in time. | Released |
Note: Approval goes straight to awaiting payment. There is no separate approved stage to manage.
Where to work
- The Orders page lists every order with filters. Each order has its own page with the payments, the history and the actions.
- A listing's Orders tab shows the orders of one raise.
- The dashboard shows what waits for you: orders to approve, orders paid and ready to settle, and overdue payments.