Verify. Hold. Settle. Repay.

The four stages of controlled agent spending.

The facilitator first checks the mandate and requested spend. A valid request reserves a hold so concurrent requests cannot reuse the same available budget.

Settlement records the receipt and completes the approved payment path. Agent hires use escrow, while eligible stock purchases pass through the settlement router and its price checks.

Repayment applies to the collateralized lane. It is separate from prefunded spending, and its debt and collateral health must remain explicit.