Q: In a few words, what is InvoiceAuction?
A: InvoiceAuction is a B2B-platform centralizes the negotiation of discount terms among a Buyer and its Suppliers via an auction tool. It is a mechanism for Buyers to deploy excess cash profitably through inviting its Suppliers to participate in an auction, bidding for a share of a predetermined amount of prepayment money against discounts on approved invoices. It furthermore strengthens the Suppliers because they get better conditions in their short-term financing terms.
Q: Does InvoiceAuction require any information about the Buyer-Supplier-relationship which amount to trade secrets?
A: Except for the pre-determined amount of money to be made available by the Buyer for immediate payment of approved invoices, and the following details of approved invoices (Invoice-ID, Supplier- identity, the currency, the amount and the due date of the invoice), InvoiceAuction does not need any further information whether from a Buyer or its Suppliers for the purpose of offering its services.
Q: With regard to the payment of approved invoices, does InvoiceAuction receive, hold, or pay any monies from, of, or to a Buyer or Supplier?
A: No. Payments on approved invoices will be made only between the respective Buyer and its Supplier without any involvement, whether contractual, administrative, or otherwise, by InvoiceAuction.
Q: Does InvoiceAuction in any way promise, guarantee, or otherwise secure the payment of an approved invoice according to auction results?
A: No. InvoiceAuction serves only as an interface/communication-tool to facilitate B2B-financing between a Buyer and its Suppliers by offering the Suppliers an opportunity to make bids (offers) to the Buyer, collecting and analysing bids (offers) by Suppliers participating in an auction, and delivering them to the Buyer.
Q: Does InvoiceAuction in any way promise, guarantee, or document the approval or change of terms of an invoice submitted by a Buyer and bid upon by a Supplier?
A: No. InvoiceAuction serves only as an interface/communication tool o facilitate B2B-financing between a Buyer and its Suppliers by listing approved invoices eligible to be bid upon and collecting bids of suppliers. It is the decision of the Buyer to allocate pre-determined monies to early payment.
Q: Does the Buyer in its sole discretion decide which and how many of the approved invoices will be eligible for immediate payment and may therefore be bid upon by invited Suppliers?
A: Yes. It is the Buyer, and the Buyer alone, who invites Suppliers. And it does so by election the approved invoices on which a Supplier may offer a discount.
Q: Does the Buyer determine the amount of money available for immediate payment?
Q: Is it possible to invite third parties, e.g debt funds, to participate in an auction?
A: No. The auction is strictly an affair between a Buyer and its (invited) Suppliers.