InvoiceFair solutions are completely different to traditional invoice finance because membership of InvoiceFair’s platform gives you immediate access to a wide pool of Funders, you are no longer reliant on one funder and at the mercy of their credit and risk appetite.

With InvoiceFair there are:

• No facility limits.
• No debtor concentration  limits
• No geographic limits.
• No long-term commitments, collateral or personal guarantees.
• No ongoing monthly service fees, audit fees.
• No uncompetitive currency conversion rates.
• Most importantly it puts you in control of the cost and connects you directly with capital market funders.
• 90% of the invoice value is advanced.

The total cost ranges from 1% to 3% of the value of the receivable sold.

This cost is driven by:

• The credit quality of the Debtor
• The credit quality of the Seller
• The duration the invoice will be outstanding
• The trading history of the Seller with the Debtor
• The trading history of the Seller on the Platform, i.e. number of deals completed, number settled on time.
• Volume in terms of the value of Invoices being traded.

This total cost has 2 components

1.  InvoiceFair platform fee

2.  The discount – the difference between the value of the receivable sold and the winning trade price the Buyers (Pool of Funders) are willing to pay.  As the Seller you can set a reserve (the minimum price you will accept for the receivable being sold) which puts you in control of the discount and puts a cap on the cost of credit to you.

In advance of your admission to membership, we will predetermine Buyer interest in your receivables. With this approach Sellers have had a 100% success rate to date – all invoices for Approved Sellers have sold on the platform with the majority of these at prices well above the reserve price.

• Where you the Seller want to commit a minimum volume of trades for a fixed period we can structure a closed “invite only” trade for Buyers who will commit to funding your receivables for a fixed period of time up to 12 months.

Yes.  We trade all debtors, across all geographies and across all currencies.

Yes, there may be an additional cost. Where the Buyer is purchasing a receivable in a currency they do not hold on the platform account, we use an FX Provider to facilitate the purchase of that currency for them and the sale back of that currency on the notified settlement date (currency swap). Depending on the interest rate differential between the two currencies there may be a hedge cost which is deducted from the trade proceeds paid to the Seller.

If an invoice doesn’t sell, the reason will be that Buyers are not satisfied with the rate of return they can achieve for the risk they are taking on, i.e. they view the reserve (the minimum price) as being too high.

The Seller can re-submit the invoice at a lower reserve price.

To assist the Seller and the setting of the reserve price, the InvoiceFair platform uses an algorithm which calculates a recommended reserve which the Seller can accept.

To date, all invoices have been sold with the majority of these at prices well above the reserve price.

If the Debtor doesn’t pay by the due date then it is the Sellers responsibility to collect the money owed, and invoice Buyers have full recourse to both the Seller and the Debtor in the event of non-payment.

If payment is late i.e. not settled by the date the Seller has indicated (The notified settlement date) late charges will apply for each day the payment is overdue. For Example – Discount €300 on a 30 day due date invoice. The daily discount is €10 (€300/ 30 days). If payment is 10 days late the additional charge to the Seller is  €150 (€10 +50% x 10 days late).

If the payment has not been received within 14 days from the due date (The maximum credit period) and the Seller is unable to provide an acceptable repayment proposal, the Buyer can commence collection and will require the Seller to repurchase the invoice.

It is important that Sellers proactively follow up with their customers to confirm that the invoice will be settled on the notified settlement date. If there is going to be a delay we need the Seller to provide substantial evidence, in the form of a remittance note or an email, from your debtor confirming the reason the payment is delayed and when it will be settled.

No, the customer does not need to know but under the platform rules, InvoiceFair retains the right to disclose to the debtor in the event there is a requirement to do so. Our experience is that Debtors are happy to see their suppliers taking advantage of opportunities to improve their working capital and thus fund future growth. Your customer will confirm that future payments will be made in into the InvoiceFair segregated bank account.

The name on the bank account is TTT MoneyCorp. There is a unique CK reference that must be included on all transfers which directs the funds to the Segregated Bank Account. 

The platform will send you a checklist of information required for approval including the latest audited accounts and up to date financials.  Our due diligence is thorough, and we make no apologies for this. We do as much of the “heavy lifting” as possible and run preliminary checks via Experian, a credit check agency. We will provide you a checklist of requirements that you can send to us – both to get set up, and then to upload invoices on an ongoing basis. If it helps, when feasible we can come to your office and work through the checklist with you. Our current invoice sellers complement us frequently on the easiness of trading invoices with us, and we would be happy to introduce you to a couple who are happy to provide testimonials for us

The information is only visible to Buyers and is the documentation relating to the trade. This is typically the PO/ Invoice and GRN. All sensitive commercial information on these documents will be redacted in accordance with the Seller’s instructions. All members are however bound by the platform rules which deal with membership confidentiality comprehensively.

The speed of the approval process is driven by how quickly the Seller can submit the approval information. An approval can be completed within 24 hours upon receipt of a comprehensive list of information.

Registration completion on the platform is a very fast process and it just takes a few minutes to upload an invoice and progress to trade. If a Seller uploads an invoice on a Tuesday, before 1 pm, then the funds from the sale of this invoice are typically in your account by 3 pm on Wednesday next day “funds within 24 hours”.

The Seller is in control and can decide to trade as few or as many invoices as their working capital requirements dictate. Some of our clients sell more than 80% of their invoices with us and release funds on the day the invoice is issued, while others use the platform once per quarter.

We receive non-traded amounts into the segregated account for most of our Sellers once the bank details with the customer have been changed. Upon receipt of a remittance, we transfer funds to the Seller same day value. There is no charge for this facility – it’s all part of our service.

No, credit insurance is not a requirement to trade.

Essentially once the trade closes with a winning bid and the platform account is debited it is deemed to constitute an unconditional sale by way of assignment of the receivable and its related rights.

InvoiceFair understands data security and is committed to protecting your information. Our security systems and practices are second to none. Data security is in the DNA of InvoiceFair, our team is trained in data security and it is part of our daily practices. InvoiceFair is a secure application that is hosted on Microsoft Azure.

We will always advise you on how your data is being used and that we do not hold it unnecessarily. You can review our data privacy policy here.