Supply Chain Finance
Supply chain finance refers to solutions that deal with the financial aspects along the supply chain of one or more companies. Essentially, this is about optimizing and managing cash flow with the aim of improving the profitability of a company.
JITpay™’s sole purpose is to optimize cash flow and the receivables and liabilities of the individual participants in the supply chain.
As a contractor, i.e. as the provider of a forwarding or transport service, JITpay™ offers you the opportunity to receive the remuneration for your service immediately after completion of the service. This saves you from waiting a long time for the payment to be received from your clients and thus often expensive interim financing.
As a customer of a forwarding or transport service, JITpay™ gives me the opportunity to make a flexible payment target to my contractors and to extend it to up to 90 days, without penalizing the contractors.
As a contractor, you achieve safe planning using JITpay™. You know the time you receive money and can thus look safely into the future. Also the risk of payment default, e.g. in the case of insolvency of your client, JITpay will take over 100% for you.
As a customer, JITpay™ provides you with a comprehensive tool for your liquidity management. Use flexible payment targets as you need them with the possibilities of your JITpay ™ portal. In addition, JITpay™ allows you to pay all of your contractors in total with a single payment. JITpay™ distributes the funds to the individual payee.
Behind the JITpay™ solution is a sale of receivables by the contractor. After completing a simple framework contract, the contractor will be given the opportunity to sell all or selected claims against its customer to JITpay™ immediately after invoicing. For this, the contractor receives the agreed purchase price for the respective claim. Your customer is informed of the sale of the claims and can only pay to JITpay™ to acquit the debt.
As a contractor you enter into a framework agreement with JITpay™, which allows you to offer suitable claims of JITpay™ for sale. You decide whether you want to sell a claim or not. There is therefore no obligation to sell claims to JITpay™.
The easiest way to conclude the framework agreement for the sale of claims with JITpay™ is to register your business on the JITpay™ platform. As part of the registration process, all contract modalities are dealt with easily, quickly and securely.
The purchase price corresponds usually always 100% of the gross value of the receivables. In exceptional cases, JITpay™ may retain part of the purchase price for reasons of risk and pay it out only when the receivables are paid.
As customer, you will only be informed about the sale of the claim of your contractor against you. From then on debt-clearing payments are only made to a JITpay™ account of. A change of creditor is made for you, so that you pay JITpay™ at the end of the payment period individually agreed with your contractor.
No. The JITpay™ model only purchases receivables that have been billed in advance by JITpay™ in the context of central settlement. If you would like to take advantage of supply chain finance without central accounting through JITpay™, please contact the JITpay™ team. We will try to find an individual solution for you.
Our type of supply chain finance is based on speed (paying out the next day) and a 100% settlement of the receivables amount. Compared to other financial vehicles, which pay out on long payment terms and seldom more than 90% of the corresponding receivables, we can offer our clients additional benefits by being integrated into central billing.