What does "Flagged Status" mean?

Written by Kaylyn Perry, updated November 14th, 2022

"Flagged status" is a flag that is triggered by missed reporting, slow sales or defaulting on payments owed, enabling the buyer cohort to vote on cancellation. 

Although it's an indication that scheduled consignment paybacks are "off track", the majority of businesses that experience flagged status still reach completion. 

Each participating user must make their own risk decisions about a Co-Op, based on its updates and their personal factors, and vote accordingly on cancellation. 

Within the cancellation vote, "No-confidence" votes can be retracted by users, so the displayed percentage of votes to cancel can sometimes fluctuate as businesses post updates or payments are missed, etc..

"Canceled by vote"  changes the status of the Co-Op and begins an enforcement process.