Payment Policies

In accordance with the Credebt Exchange® Master Agreement, and as defined therein, this is a Credebt Exchange® Document. All Originator and Agent Members of the Exchange are bound by all of the provisions contained in this Document. THIS IS AN IMPORTANT DOCUMENT AND IT SHOULD BE READ CAREFULLY TO ENSURE COMPLETE UNDERSTANDING PRIOR TO ACCEPTING ANY RSA OFFER. If you have any queries in relation to this Document, the online form is the most efficient way to contact us with any queries.

Payment Policy

The Credebt Exchange® Payments Policy uses the trading industry standard of Tomorrow or the Next Day [TomNext] on all ETR Trades received before 01:00PM today (where ‘today’ is a business day). Unless Same-Day payment (at a cost of €17.50) is specifically requested by the Originator, all Purchase Price and Reserve payments are TomNext. Please allow at least 72 hours for all TomNext payments to be processed before reporting a payment as ‘missing’. Some banks do not process payments as efficiently as others. As indicated on the Provisional RSA Offer, or the Formal RSA Offer if provided and whichever is the most current, a Trade Commission charge is automatically deducted from every payment transfer to an Originator, regardless of value.

Additionally and in accordance with the Credebt Exchange® Master Agreement, each Member shall immediately pay to Credebt Exchange® the amount of any payment that Credebt Exchange® may have previously made to the Member, and which Credebt Exchange®, in its administrative capacity, determines should or must be reversed. The Member shall pay such amounts to Credebt Exchange® immediately following demand, without any ability to dispute such payment, which right is hereby waived. The Member further agrees that Credebt Exchange® may setup or initiate transfers out of the Member Collection Account, or from the Member Payment Account, to pay such amounts owed to Credebt Exchange®, or alternatively, Credebt Exchange® may set-off the amount so owed against any sum that may then or thereafter be owed to the Member.

Reserve Policy

In accordance with the Credebt Exchange® Master Agreement, the Originator’s entitlement to any Reserve is at the discretion of Credebt Exchange®. All Reserve payments must be agreed on, or before, the Maximum Maturity Date. Reserve payments not agreed prior to the Maximum Maturity Date, automatically expire and no Reserve payment is due.

High-Risk Debtors are Debtors with any bad credit rating from a Rating Agency. Traded ETR from High-Risk Debtors, will affect all Reserve payments to the Originator. The Face Value of all Traded ETR from all High-Risk Debtors that are not Settled are deducted from any Reserve payment. Originators trade in High-Risk Debtor ETR at their own risk.

High-Risk ETR are Traded ETR purchased close to, or after, the Maximum Maturity Date. High-Risk ETR, will affect all Reserve payments to the Originator. The Face Value of all High-Risk ETR that are not Settled are deducted from any Reserve payment. Originators trade in High-Risk ETR at their own risk.

For any Originator that is a Debtor of another Originator, any amount payable by the Debtor to the Originator may be set-off by Credebt Exchange® against any amount payable by the Exchange to that Originator.

Reserve payments to Originator’s that opt to have Credebt Exchange® undertake a Buy-Out (i.e. purchase all outstanding invoices and fees from an IDF provider) are only made when the total amount outstanding is less than the Buy-Out value. For example, if the Buy-Out cost was €500,000 then Reserve payments commence after the initial Buy-Out cost of €500,000 is paid in full.