To finance a trade, the request must be made through our platform with supporting documentation attached. You can find more information on submitting a new request here.
Documents Required
You will need to submit the following documents:
Invoice - An Invoice in electronic format is always required. Sales confirmation / purchase order or similar will not be accepted.
Bill of Lading / Transport Document - Is required if payment terms refer to the transport document or departure / arrival at port. This is also required when financing freight and shipping services or when Client is a commodity trader.
Packing List - is required only if goods are not stated on the Transport Document.
Further documentation relating to your submitted requests must be provided through the platform by clicking on the EPTF reference number appearing in the table and attaching them under the ‘Documents’ section in the side panel.
Invoice Requirements
The following conditions must be met on each invoice:
Invoice must be issued to your company name and address
A clear description of goods or service that match your trading activity
The invoice must be in date and align with the payment terms indicated on the platform. We cannot accept amendments to payment terms and those on the invoice will supersede ones given on the platform.
Invoice must have an issue date and number
Supplier details including name, address and bank account for payment. We cannot finance invoices from a related party or make payment to an individual
Amount to pay must be clearly evident including currency, unit price and quantity sold
Payment Terms
You will need to indicate the payment terms for your invoice on submission. If an invoice is out of date, it will not be possible to finance. Kindly ensure documents are submitted within the payment terms outlined below:
Deposit / 100% in advance - Invoice should be submitted within 60 days of the issue date. Clarification may be requested if the invoice is submitted after 60 days.
Payment before Shipment - Invoice should be submitted within 60 days of the issue date. Estimated shipment date may be requested if the invoice is submitted after 60 days.
Payment due in X-days - Invoice must be submitted within X days from the issue date. Payment terms with 90 days or greater must be stated on the invoice or written confirmation between you and your supplier will be requested. Maximum finance period is 150 days.
Payment against Copy of Documents (i.e. Bill of Lading) - Documents must be submitted within 30 days of the invoice date or transport document date, whichever is the latest. Transport document is only required if payment terms specify.
Payment before, upon or after arrival at port - Documents must be submitted within 30 days of arrival at port date. Invoice and a transport document must be provided.
Due on Receipt of Invoice - The Invoice must be submitted to us within 5 calendar days from the Invoice Date.
Other - If the above payment terms do not apply to your transaction, you can use the ‘Other’ option which allows you to freely type the payment terms specific to the agreement with your supplier.
Processing Payment
Once your request for finance has been reviewed and approved, a Bill of Exchange will be sent to you for signature (where applicable). You will receive it via email from Ebury and this document must be signed by a director. We will release the payment to your supplier once the signed Bill of Exchange has been received.Once payment is released, you will receive a Trade Confirmation via email confirming payment has been made.
Things to Note
Your credit line remains open for a 3 month rolling basis. You are required to submit your latest 3 months of management accounts (P&L and Balance Sheet) before the end of this period.
Management Account Reminders will be sent 1 week before accounts are due. Failure to submit them in time will result in the line being frozen and trades will not be processed.
Interest is charged fully for the first 30 days, then it is calculated on a daily rate basis. Maximum loan duration is 150 days.
To repay a trade early, simply email operationsteam@ebury.com with the trade number and new settlement date. The interest rate will be recalculated accordingly.
Repayment Reminders will be sent 1 week before the repayment date, with a final reminder issued the day before repayment is due.
Any overdue repayments and margin calls must be settled in order for new requests to be processed.
Physical Bills of Exchange must be received within 7 days of payment being released upon the signed scan copy (where applicable)
Physical Guarantees need to be received ahead of your first trade submission
In some circumstances, we may request additional information about the relationship with your supplier. This may include obtaining past invoices and proof of previous payments.
Please contact tradefinanceoperations@ebury.com should you have any questions and we will be happy to help!