> For the complete documentation index, see [llms.txt](https://brd-digital.gitbook.io/brd-digital-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://brd-digital.gitbook.io/brd-digital-docs/cross-border/settlement-flow.md).

# Settlement Flow

The corridor stage by stage: quote, fund, screen, settle, pay out, and what determines the timing of each.

One corridor operation has five stages.

1. **Quote.** You request a price: amount, currencies, and the rails on each side. The quote is firm for the validity window shown with it. See FX Conversion.
2. **Fund.** Send the incoming leg with the operation's reference, as with a mint deposit. The cleared-funds rule applies: the operation runs on cleared money, not on a payment advice.
3. **Screen.** Sanctions and AML screening on the payment and, where the profile calls for it, **supporting documentation** such as an invoice, a contract, or a payroll file. Having it ready when asked is the single best way to keep an operation moving.
4. **Settle.** The operation settles in stablecoins at the rate you accepted, not at a rate discovered later.
5. **Pay out.** The outgoing leg is initiated on its rail. Where the operation has a US dollar leg, it is provided through regulated partners.

## What determines the timing

The settlement itself is rarely the constraint. The **rails** are.

<table><thead><tr><th width="230">Leg</th><th>What governs it</th></tr></thead><tbody><tr><td>PIX</td><td>Settles in seconds, at any hour.</td></tr><tr><td>On-chain</td><td>Network finality, subject to network speed and congestion.</td></tr><tr><td>Provided through a partner</td><td>That partner's operating hours, cut-offs and holiday calendars.</td></tr><tr><td>Screening</td><td>Whether requested documentation has arrived.</td></tr></tbody></table>

Timelines may vary depending on the institutions and rails involved. Estimate from the slowest leg, not the average.

## If an operation stalls

The activity history shows which stage it is in. Operations held in screening are released fastest when the requested documentation arrives. Operations pending on a payout rail are usually waiting on that rail's calendar. Reference the operation ID when you contact the institutional desk.

## Related pages

* FX Conversion, the pricing stage in detail
* [Cross-border](/brd-digital-docs/cross-border.md), rails and overview


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