My requests for working capital
- What is an invoice?
- What kind of documents of proof is needed with my invoice?
- What is an assignment deed?
- How quickly can I receive funds?
- Can I use the platform on a regular basis?
- Which Invoices can be financed?
- How am I charged?
- Is there a mandatory contract commitment?
- Is there a minimum amount for an an invoice to be sold?
- Is there a maximum amount of for an invoice to be sold?
- What are the payment dates acceptable for an invoice?
What is an invoice?
An invoice is the right held by a lender, called a creditor, to require payment from a debtor for the provision of services or sale of a good. This is a commercial debt, also called a receivable that is usually materialized by an invoice.
What kind of documents of proof is needed with my invoice?
A document of proof is considered relevant when it certifies the actual performance of service or delivery of goods. In other words, a proof of delivery document signed by your client will be considered as such, but not a simple order form nor a quote.
What is an assignment deed?
An assignment deed materializes the transfer of ownership of any pending payment from your client. It entitles the transferee to receive the future payment by the debtor (your client) of the sold invoice.
How quickly can I receive funds?
The wire transfer can be issued to your bank account on the very day the financing offer is sent to your and accepted. The availability of the funds may vary depending on the banks.
Can I use the platform on a regular basis?
Yes. Among the many advantages of our financing solutions is that you are absolutely free to choose at what pace you want to receive financing. The solutions accessible with Finexkap require no commitment on duration nor on volumes. The service remains open for you to make new requests for financing at any time and perform usual tasks such as tracking your outstanding invoices, clients’ payments or any other activities related to your Finexkap account.
Which Invoices can be financed?
Invoices that you would like Finexkap AM*- to finance must meet a few pre-requisites. They must:
- - be related to your clients or "B2B";
- - not be overdue;
- - offer documents of proof as defined above;
- - for the first financing, the minimum amount accepted is € 1000 including taxes, except in the specific cases of Cash Market or Cash Reverse;
- - comply with applicable laws, in particular regarding LME (Law of Modernization of the Economy stating that payment periods between professionals are capped by Article L. 441-6 of the Commercial Code: (1) unless otherwise stipulated, the deadline for issuance of invoices is set at the thirtieth day following the date of receipt or performance of the service, and (2) the agreed period between the parties may not exceed 60 days, or by derogation forty-five days end of the month, from the invoice’s date of issue).
In addition, invoices must comply with all the following eligibility conditions:
- - every invoice must be confirmed, can be monetized and is payable;
- - none of the invoices are subject of a transfer/ sale to a third party, especially in the context of a factoring contract or an assignment as guarantee;
- - no information indicated on the invoice was altered since its issuance (payment date, amount, etc.); and
- - if one of the invoices is already covered by credit-insurance or a third-party guarantee, you have waived any potential recourse under this credit-insurance or guarantee, or you delegate the benefit to the transferee and will not be able to request equivalent coverage following the transfer of this invoice.
In addition, you are not aware of any:
- - dispute with the client in relation with the invoice;
- - litigation with any client under previous invoices that have not been settled to date;
- - asset that would not be charged and issued to the benefit of the client ; and
- - deduction related to rebates or commercial discounts to be deducted.
How am I charged?
The sale fee is automatically deducted from the amount of financing you have been granted. The lte payment fee, if any, is automatically deducted from the holdback to be refunded. As part of Cash Creation and Cash Solo, subscription fees are automatically deducted from your bank account.
Is there a mandatory contract commitment?
No. The use of Finexkap is 100% without commitment. You can submit new financing requests directly on the platform whenever you want and with no obligation. The same goes for Cash Creation and Cash Solo as long as you pay the required monthly subscription fee. You can use our services as long as this subscription is valid and can terminate it at any time with a simple two-month (2) notice to ensure that there is no pending financing that requires reimbursment. Cancellation will be effective only once all financings have been reimbursed, including any potential late payment penalty.
Is there a minimum amount for an an invoice to be sold?
The first invoice to be financed with Instant Cash, Cash Creation or Cash Solo must not be smaller than € 1,000 taxes included, for a specific client. Once you have made an initial financing request, the subsequent ones may contain one or more invoices with an amount smaller than € 1000 taxes included, still with no amount nor duration obligation. These conditions may be different for Cash Market or Cash Reverse; please contact us for more information.
Is there a maximum amount of for an invoice to be sold?
You can finance as many invoices as you like as long as they respect the conditions mentioned above. Similarly, Finexkap AM*- will keep the right to accept or reject any financing request. Remember that you have no obligation as to a minimum or maximum for the subsquent invoices to be financed. With Finexkap, you are free to choose when you need us and we strive to respond quickly and efficiently to your needs.
What are the payment dates acceptable for an invoice?
Invoices accepted for financing must comply with applicable laws, in particular regarding LME (Law of Modernization of the Economy stating that payment periods between professionals are capped by Article L. 441-6 of the Commercial Code: (1) unless otherwise stipulated, the deadline for issuance of invoices is set at the thirtieth day following the date of receipt or performance of the service, and (2) the agreed period between the parties may not exceed 60 days, or by derogation forty-five days end of the month, from the invoice’s date of issue).