Take some of the stress off your shoulders and get the money you’re owed fast with JITpay and Eurowag’s advanced payment system.
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.