Running a business and dealing with finances can be hard.
What are the benefits of JITPay?
- No obligations – Send one invoice or a hundred, you can use JITPay as often as you want with no contract and only pay for what you use.
- No asset pledge or personal warranty needed.
- PAYG model – No minimum or maximum volume, all decisions are obligation free.
- Easy to sign up and use – Just digitally sign permission for JITpay to process your invoice, and we’ll get started right away.
- Quick returns – You'll have your money in about 24 hours.
- Credit sales insurance included – No responsibility for you if a customer defaults on payment.
How does pricing work?
the fee to JITpay™ is 1,99% of the paid amount
the fee to JITpay™ is 2,49% of the paid amount
the fee to JITpay™ is 2,99% of the paid amount
the fee to JITpay™ is 3,99% of the paid amount
FAQs
- Historically the industry has had large accounts receivable and accounts payable balances on an ongoing basis and very high operating costs.
- Without spending money, operations simply cannot continue, thus creating problems with cash flow (if debtors are slow when paying their invoices (i.e. >30 days).
- Many of the forwarding and logistics sector participants are thinly capitalized, and apart from vehicles, do not have any other long-term assets that could be treated as collateral.
- Due to the sector’s low gross and profit margins, one or two loads that do not go as planned (i.e., damaged in shipment) can be devastating.
- CSC (Client Self-Care portal), log in to the customer account, and click on the “EW Invoice Financing” section.
- Eurowag webpage, and click on the “EW Invoice Financing” section.
- JITpay webpage, (Invoicing and factoring in logistics - JITpay™) and click on the “registration” button. More detailed information about online registration is described in the “JITpay Client manual”.
YES. The debtors should be based in the following countries:
Austria, Belgium, China, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Guernsey, Hungary, Ireland, Isle of Man, Italy, Jersey, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States.
Other countries must be approved by JITpay.
Yes, the debtor must be informed about the factoring transaction, as the debtor, upon the invoice due date, will have to pay the invoice to the factoring company – JITpay.
Yes, it’s up to the customer to choose which invoices they want to finance.
This is not necessary!
The customer should submit only the invoices that he wants to sell to JITpay.
JITpay starts the debt managing process: sends reminders for payment and calls the debtor. If there is a need, JITpay concludes a payment plan. If the debtor can't manage to pay the invoice amount before the 180th day of being overdue, JITpay will submits a non-payment case to our insurance company, and they will start the collection process against the debtor.
If we get notice or other information that the debtor is insolvent, or insolvency procedures have been started against the debtor, we submit the case to the insurance company. They then contact the debtor, analyze the situation, and pay the insurance benefit upon identification of the insured event.
No.
Do you need to know more?
Looking for more information about Invoice Financing? Leave your contact information and our team will reach out to you.