DISCLOSED INVOICE
DISCOUNTING PRODUCT

VINCORP is excited to announce another
innovative product, structured to assist wine
producers to manage their cash flow and client
non-payment risk.

Disclosed Invoice Discounting is a financing product in terms whereof VINCORP provides finance of up to 80% of the face value of an approved debtor’s invoice to a supplier. The finance is provided without a balance sheet evaluation of the supplier. The product will be suitable for all suppliers that are providing payment terms to their clients and need access to cash.

APPLICATION

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CREDIT REQUIREMENTS

Clean credit record
Years in business
Annual turnover
Tax clearance
Limit per wine producer

No judgements or defaults
More than 12 months
More than R1 million
Recent Tax clearance
R5M client

DEBTOR CRITERIA

Approved debtors
Acknowledgement by debtor
Payment account
Local and foreign entities covered by credit insurance
Debtor to accept cession to Vincorp
Required to pay to a Vincorp nominated account

CONDITIONS PER TRANSACTION

Percentage advance
Proof of delivery

Up to 80% of invoice value
Bill of Lading/Delivery Note

CONTRACTUAL CONDITIONS

Facility agreement
Cession of debtors

OUR PROCESS

The process is simple to implement and gives you
access to working capital within as little as 3 days.

STEP 1 CONTRACTUAL IMPLEMENTATION

STEP 2 CLIENT APPROVAL

  • VINCORP will approve your buyer within 3 days for a credit limit.
  • VINCORP will confirm with the buyer that future payments will be made to VINCORP.

STEP 3 FUNDING ADVANCED

  • Send your sales invoice and proof of delivery or shipment to VINCORP.
  • Receive up to 80% of your invoice value upfront.

STEP 4 PAYMENT FROM DEBTOR

  • VINCORP will wait out the term and receive full settlement directly from your buyer.
  • You will then receive the balance of the invoice value less the VINCORP fees on payment from the buyer.

NEXT STEPS

  • Complete the application form.
  • Send us a list of your buyers to verify that VINCORP can approve limits for them.
  • Conclude the Finance agreement with VINCORP.
  • VINCORP will finalise payment arrangements with the buyers.
  • Now you are ready to send in invoices for cash.

VINCORP FEES

Advance in ZAR

Admin fee per 30-day period inclusive of credit cover

Invoice currency % Advance Admin fee
ZAR 80.0% 1.65%
USD 80.0% 1.50%
EUR 80.0% 1.50%
GBP 80.0% 1.50%

Advance in Currency

All foreign currencies 80.0% 1.50%