Settlement

Along the transaction value chain
Payment initiation on purchase

Payments get initiated to close the purchase

After the trade receivable is sold, the auction price gets transferred from the buyer's main bank account to the seller's main bank account automatically.
Trade Receivables Assignment Contracts

Automatically generated and distributed

The seller and the buyer of the trade receivable automatically receive a digital assignment contract via email. All assignment contracts are also stored in the TrustBills repository and can be downloaded from there. Institutional investors can also have the assignment contracts sent directly to their custodians by email or store them on its servers.
Payment matching & initiation

When the debtor pays the bill

TrustBills automatically detects when the debtor pays the notional of the specific trade receivable to the suppliers' bank account and initiates the transfer of that amount to the buyer's main account. Thanks to ML and AI, this also works for split payments, late payments, advance payments and payments from collective invoices.

Dealing with Cash Discounts

Buyers of trade receivables are always entitled to the full invoice amounts. If a trade receivable with a cash discount agreement has been uploaded to TrustBills, the seller of this receivable must pay the discount. TrustBills offers the functionality to transfer the cash discount amount to the buyer of the trade receivable just by pressing a button.

Dealing with Mitigations

If an invoice with a 100% guarantee of verity and quality has been uploaded and if it later turns out that the goods or services were not completely satisfactory or have been damaged during delivery, then the customer (debtor) will pay only part of the invoice amount. In that case, TrustBills first asks both parties, through a digital dialogue, why a mitigation has occurred.

If both agree that the mitigation was due to a shortfall, the seller of the trade receivable offsets the investor for the mitigation. TrustBills provides a compensation feature that allows the seller to pay the compensation with just two clicks.

In the event that the seller insits on having delivered completely and accurately, but the customer denies this, the buyer of the trade receivables will be notified and advised to engage an external dispute manager. So far, this case has never occurred.

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