The cancellation chargeback is calculated by the following method:


Total Selling Dealer Markup * Pro-Rated Refund % less any funds received in excess of Pro-Rated Earned Retail Cost + Cancel Fee (inc tax) + Paid Claims (to a minimum of 0.00).


How does the Administrator calculate the cancellation chargeback resulting from a cancellation by request?

The cancellation chargeback is calculated by the following method:


(Pro-rata % of Total Selling Dealer Profit) + (Pro-rata % of Total Selling Dealer Markup) to a maximum of the total Selling Dealer Profit.