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Okay, a lockbox is basically a

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special purpose account. So lockboxes can

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be used by law firms. But for the context of

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this industry a lock box is basically

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a special purpose bank account.

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That somebody sets up to receive deposits.

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So let's use a credit card split deal

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as an example.

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You have a merchant you're going to

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take a percentage of your credit card sales, but instead of switching over

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the processing and taking a percentage directly from the credit card processor. Maybe

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that's not possible. Maybe the credit card process is

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not going to give you a percentage. You don't have a relationship with them. You

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don't have a contract with them.

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So here's how you work around that you set up a new bank account a

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lockbox bank account.

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And you just tell the credit card processor. Hey just deposit

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their funds into this bank account going forward and

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instead of this one.

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This account once it receives money will then split

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the payments for you percentage will

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go to the funder and percentage will go to the merchant. They create it

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could create an extra day or two delay on everyone receiving their

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fonts, but it helps you bypass having to do

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all the technical Integrations and legal collaboration with

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the credit card processor itself. You can

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just backend your way into doing this split by having a

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separate log box bank account.