Well now you can through finvoices’ Innovative Digital Cheque Product allowing you to immediately unlock the value in you Account Receivables.
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Do you have to give Credit Terms to your trading partners
Does this negatively impact on your cashflow?
rying to win a piece of new business but your business partner is asking for Credit Terms?
How we do this?
Finvoices has created a new exciting financial instrument, Digital Cheques, which allows you to immediately access the value in your Account Receivables/Debtors.
Digital Cheques can be compared to Cheques or Promissory Notes. Both of which are legal instruments used to pass value from one party to another.
Finvoices is taking this antique process and bringing it into the modern day allowing a business who has issued an invoice and is awaiting payment to immediately create value from this invoice and pass it to a 3rd party, who in turn can immediately cash the Digital Cheque or issue Digital Cheques of their own.
On issuing an invoice and loading it on the Finvoices Platform a Digital Cheque will be issued.
A Digital Cheque can then be immediately cashed - in return for a small fee. Or, new Digital Cheques (up to the value of the Cheque received)can be issued. Issuing the Digital Cheques to 3rd party/ies that may need to be paid, in return for a small fee (which is less than the fee for cashing in the note!).
The recipients of Digital Cheques can then do the same thing, cash in for a small fee or issue new Digital Cheques to people they owe money to!
AM I LIABLE?
No. Nothing will change for you. You will still have the same legal and ethical duty to pay the invoice to your supplier on time. finvoices in partnership with you will communicate this new service to your suppliers and onboard them onto our platform. If one of your suppliers chooses to use the service then we will inform you and ask you to log into your finvoices Dashboard and confirm your supplier’s invoice on our platform. You are now obliged to pay finvoices the amount owed under the invoice on the due date.
If your suppliers choose not to use finvoices then nothing happens. Just carry on as normal.
