How do you validate an invoice for upload to the platform?
Every invoice that is uploaded to the platform is analysed based on more than a hundred criteria. One of the most important criteria is the validation of the invoice by the debtor. This process is called “external audit” of the invoice. By default, the debtor must answer a couple of questions by mail: Does the […]
What are the legal criteria for issuing an invoice?
The invoice to be submitted for validation must fulfill certain local requirements according to its country of origin. In general, the following criteria must be met: The invoice must be correctly dated; Name or corporate name, seat or domicile as well as the VAT number of the supplier of the goods or service provider; Name […]
I work in the construction sector. Normally, I bill material supply and construction on the same invoice, without VAT. If I split the two services and issue a single invoice for the supply, will I have to charge VAT and if yes, how much?
If you only bill the material supply, the invoice is not subject to the obligation to withhold and Edebex can work with 100% of the invoice amount. However, you must charge VAT of 21% on those invoices.
I work in the construction sector. Will the 50% that is not pre-financed also be guaranteed and will they be part of recovery proceedings if my client pays late?
No, the insurance coverage is only valid for our investors. However, judicial recovery will be made for 100% of the invoice amount. Keep in mind that you will only receive your 50% at the moment when your client pays the invoice amount.
My clients normally get a discount on cash payment of their invoices. Is it possible to offer the invoice for sale on the Edebex platform after the activation time of the cash discount?
Edebex does not accept any invoices issued with a discount for cash payment. Indeed, our investor pre-finances an invoice based on its nominal amount. This means that the purchase price of an invoice (its nominal value minus the discount granted to our client) is calculated by taking into account the nominal value of this invoice. […]
A potential client has a rating higher than 4/10. Can I therefore assume that the invoice will certainly be financed on the Edebex platform should I indeed close a deal with this new client?
No, an acceptable rating means that our credit insurer has classified your client as insurable and that a coverage by our investor is possible if the invoice is sold. The actual sale of the invoice depends on the result of the internal and external audit we conduct for every invoice. The invoice will only be […]
My average invoice amount is less than 5.000€. Can I use the Edebex platform?
There are 2 possibilities : 1. Yes, but our commission will be calculated on an amount of 5.000€ 2. Yes, if you have different invoices from the same debtor with the same due date. We can make a package of all those invoices and selling them as a group.
My costs for selling an invoice exceed the average of 4%. Why?
The average cost of selling an invoice on the Edebex platform is 4%. We distinguish between fixed and variable fees: Fixed fee: The listing fee is charged for every invoice that is uploaded on the platform. This cost is the same for all invoices. Variable fees: The service fee and insurance fee are different for […]
My invoice has been refused, can I claim a refund of the fees?
Unfortunately, we cannot refund the listing fee as it is used to cover the costs to determine the credit rating of your client and the audit of the invoice. However, under certain conditions we can refund you any other fee that you might have paid in advance. When do I have to pay the fees?
Why does Edebex contact my client?
When you submit an invoice issued on behalf of a new client, we contact them by phone. We do this for two reasons. First of all, we would like to explain to the client how Edebex works (commercial approach). In the next step, we want to get in touch with the persons that are authorized […]
Can I be 100% sure that my invoice will be sold?
As soon as an invoice is approved, it is 100% sure that the invoice will be sold. It takes approximately half a day to sell an invoice.