10 golden rules of cooperation with JITpay™
For a successful collaboration with JITpay™, we ask you to read through the following 10 golden rules.
- The cooperation takes place in the so-called “open factoring procedure”: This means that your clients must be notified of the assignment of the receivable to JITpay™. The notification is made by a remark on each invoice and by a disclosure letter sent by JITpay™ to the client. JITpay™ will only purchase receivables that are free from third-party rights and for which there is no prohibition of assignment.
- The transport order, the proof of delivery (POD) and the corresponding invoice document as an invoice or credit note for each transaction must always be uploaded to the portal. The invoice does not need to be uploaded if the invoice is created by JITpay™. All documents are sent to the client via the portal.
Important: You do not need to send these documents to the client again by email.
Exception: Your client requires the original documents!
In these cases we are unfortunately unable to offer you pre-financing of the invoice, as neither the dispatch nor the receipt of the documents can be monitored by us. - Please ensure that the submitted invoices always include the assignment note and the bank details of JITpay™.
- If you create your invoice via JITpay™, you must not create an additional invoice and send it to your client.
- Should the client create a credit note, this can also be uploaded. It is important that you do not create your own invoice for this process, as your client would not accept it.
- Credit notes can only be submitted if the client confirms to JITpay™ that they will pay the credit note amount to JITpay™. Proof of the client’s intention to pay JITpay™ is required.
- Payment will be made within 24h-48h after verification and approval (portal status: “purchased”). In case of initial submissions and invoices with high amounts, JITpay™ will obtain additional confirmations from the client. The checking and approval process may therefore require a bit of time.
- You can view the status of your invoice at any time in your invoice centre in the JITpay™ portal.
- Subsequent changes to the bank details on invoices that have already been purchased by JITpay™ as well as requests in verbal or written form to your client not to pay the invoices to JITpay™ are not permitted and are prosecutable in the event of intent.
- If you accidentally receive a payment from your client for an invoice that you have sold to JITpay™ (so-called “direct payment”), you are obliged to inform JITpay™ and forward this money to JITpay™ immediately.
About JITpay™
