It’s easy. Get an invitation and log-in-credentials from your Buyer to participate in an auction for immediate payment of approved invoices. Log-in at your exclusive Supplier Site on InvoiceAuction. Review Invoices, which are eligible for bids. Decide on the discount you wish to offer and submit your bid.
Review interim auction status. Check your account on Payment Date+2 to determine whether you were a winning bidder and have received immediate payment according to the terms of your bid(s). If so, your invoice is settled according to the terms of your winning bid.
That’s it. Easy, right?
Suppliers obtain financing without costly involvement of third parties such as banks or factoring compa- nies. The Supplier learns in advance whether early payment is possible and decides on a case-by-case basis whether and how much to offer in terms of discounts. No one-size-fits-all-discounting.
With no third-party-involvement, the administrative burden and interference coming with a transfer of claims falls away.
Its free. InvoiceAuction does not charge Suppliers. InvoiceAuction renders Services to Buyers. They are charged fees.
“No banks. No factoring. No hassle.”