Thanks everyone. I sent pictures to the manufacturer, and they are going to replace the belt. I didn't want to request that if it was normal. The owner was very responsive, and didn't give me hassle, but it would be nice if this would have been inspected, prior to shipping.
The level of detail that went into the rest of this belt, and trying to fix a different belt with some rough edges has definitely gotten me interested in leather craft. It's good to know there are knowledgeable, helpful people on this forum. Thanks again, everyone.