Q: I had a question regarding the legality of a payment plan for NFA items. For example let’s say there is a payment plan of 4 payments. Customer pays the first 3 payments and doesn’t make the 4th when the approved Form 4 is returned. How does the FFL handle that since the item is supposed to be transferred? What would be the scenario if the customer refuses to make the last payment or if they are insolvent?
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