FAQs

After all the documentation is received and our accounting team has gone through it and made sure that everything is correct, the payout takes place. That process usually takes 48 hours from the submission of the documents to payout.

No. When you assign your invoices you have the freedom to select the invoices you wish to assign depending on your cash-flow needs. However, each customer whose invoices you have assigned is formally notified with instructions to remit all the payments to invoitix. All the payments for assigned invoices must be received by invoitix. This ensures that your customer sends all payments to one party to avoid confusions. That is why it is highly recommendable to submit all the invoices from a given customer, especially when the customer is a big company with automated payment procedures.

If invoitix identifies a payment that couldn’t be matched with any assigned invoice, invoitix informs the client immediately. The client must upload the respective documents on the platform so that invoitix can match the payment with an existing transport. After that is done the payment is immediately re-directed to the client. Since invoitix has many clients it’s not always possible to identify which client a given payment was made for. Feel free to ask whether invoitix has received a given payment anytime you reckon it to be needed. Nevertheless, in order to avoid too many such cases, we suggest that you follow the instructions of question 2.

Our commissions are calculated by taking into account two main factors: First, the monthly turnover from international transports that the client is willing to submit for funding on the platform of invoitix. There are several ranges of prices in accordance with such monthly volume. Higher volume is translated into lower commissions. Before sending you a contract our sales team will set up prices for your company pursuant to the indicated monthly volume. The second factor that influences the pricing is the payment term of your invoices. Longer payment terms mean higher fees. We have four pre-established generic payment terms (30, 45, 60 and 90 days) and the prices for each of them are fixed including as well the first factor mentioned above.

There are no hidden costs or membership fees. You will only incur fees on the receivables that you have assigned to invoitix and nothing else.

We always inform the customers that a given invoice has been assigned to and purchased by invoitix so as to make sure they use our bank account to pay on due date. If you want to inform the customer as well of that assignment, feel free to do so. This reduces the risk of receiving a direct payment further.

This said, if you receive a direct payment you should do the following at your earliest convenience:

• Inform invoitix ag within 48h about the direct payment (otherwise you may incur a penalty of EUR 25)

• Inform the customer, with invoitix in cc, that next time the payment must be made to invoitix

invoitix will balance your account with one of the following two options:

• The amount of the invoice that has been paid directly will be reduced from your next payout

• invoitix will ask you to re-direct the payment you have received.

invoitix keeps the right to choose any of the above mentioned options at its entire discretion.

If a given customer doesn’t accept factoring, we won’t be able to purchase and pay in advance your invoice. Such a cases are rare and we have already identified in our database the companies that don’t accept factoring.

Should it happen that we have accepted an invoice for a new customer and the customer informs us that he doesn’t accept factoring, we will inform you immediately. We will give you up to 60 days to inform us when you receive the payment so that we can register it as a direct payment and reduce it from your next payout.

You have total freedom to select the customers you wish to assign. It is recommendable that you include all your customers as this allows you to maximize the liquidity for your company and also minimizes your losses on unpaid invoices or credit losses. Such unpaid invoices, if purchased by invoitix, will be sent to our collection services at our own cost.

invoitix purchases around 95% of the total invoices that are submitted on its platform. However, if a given customer is not creditworthy or is not a more or less reliable payer, invoitix won’t purchase such invoices. In such a case invoitix will register the invoice as a “Service Invoice” since the customer doesn’t qualify for assignment (see next question).

When an invoice you have submitted for financing doesn’t meet our requirements, then the invoice is automatically registered as Service Invoice. This means that invoitix is not going to purchase and pay the invoice in advance but is going to handle the invoicing and collection process for you. As soon as invoitix receives the payment for a Service Invoice, we transfer the money to you.

If the customer pays the invoice more or less on time, a track record will be created and a credit line may be granted for future invoices.

invoitix has a huge database in which every customer has a credit-rating in accordance with its financial situation and payment history with invoitix. The database offers a system with 3 colors that show the creditworthiness of every customer:

Green: Optimal credit worthiness.

invoitix will purchase your invoice and pay it within 48 hours.

Yellow: Good to Average credit worthiness.

In 90% of the cases your invoice will be paid and invoitix will pay to you in 48 hours. In The remaining 10% are customers that temporarily have reached their credit limit with invoitix. Some invoices must be paid or the credit limit increased before invoitix can pay the invoice to you.

Red:  Really bad payers or close to insolvency.

invoitix will not purchase invoices for customers labeled Red. We recommend that you check a company on our platform before taking a load, to avoid losses by taking loads from Red customers.

Feel free to ask invoitix if you want to know the reason for Red for any customer you want.

*There are some companies that are labeled in Red but not because of their creditworthiness but because they don’t accept factoring. This will be indicated on our platform. Please contact us if you have a new customers that is not rated.

We do this for you. This is part of our service to you as our client. We will check the creditworthiness of your customer and will give a credit limit. If the credit rating is Green or Yellow, we will purchase your invoice. Once your customer is added in our database we will monitor its credit rating. in our system.

Don’t hesitate to ask our team about companies that are not in our database. The only thing we need is the VAT number and the name of the company. Usually we can answer to you in less than 10 minutes (as time is key when looking for loads).

You are not allowed to use your own invoice. The only invoice you can use is the invoice generated by invoitix and sent to you by e-mail.

If a customer requires the original documents, our team will let you know or you can see it on the invoitix patform. You then should send the following documents by post to your customer:

• The invoice that invoitix has generated for the given transport through its platform.

• The original CMR or delivery note (in some cases both are required).

• Pallet notes, temperature tickets and other documents (where applicable).

*Sending your own invoice is strictly forbidden and may lead to your permanent ban from the invoitix platform; invoitix may start legal actions against you for violationg key provisions of the contract between you and invoitix.

There must be a specific reason as to why your customer will not pay for an invoice. In situations of commercial disputes, you as a vendor will have to respond to that dispute, and our team will support you where needed. In the event your client becomes insolvent and the invoice was purchased by invoitix, we take the loss subject to a deductible of EUR 1’200.

No. invoitix only works with logistics companies and most of your customers already work with us on a daily basis.    

Banks typically consider your company’s financial condition, the personal credit of the principals and your company’s age. Since invoice factoring is the purchase of your invoices against your customers, invoitix considers the creditworthiness of your customers and not your company’s financial condition.

If you provide good transport services to good customers, you qualify for factoring with invoitix.

No. Through factoring, you sell your invoices to invoitix and receive liquidity (cash). Your balance sheet will be stronger. You will reduce your bank fees, your credit losses and you will reduce your staffing costs as invoitix takes over the receivables management, reminders, etc. Also, if you use the additional liquidity in a smart way (e.g., buy more trucks), you will increase your business and your net profit.