What is Auto-Settlement?
The buyer’s bank automatically processes a payment on the due date, after all agreed settlement conditions of the Smart Contract have been met.However, payment is only effected if there are sufficient funds or available limit on the buyer´s account.
What is a BPU (Bank Payment Undertaking)?
The buyer’s bank provides an irrevocable undertaking to the seller that the purchase amount will be paid on due date and after all settlement conditions of the Smart Contract have been met. A BPU mitigates the risk of the buyer’s inability to pay on due date as the buyer’s bank provides the irrevocable payment undertaking.
What is a BPU Financing?
The seller can request financing for the underlying receivables based on a BPU issued by the buyer’s bank. This non-recourse financing service provides the seller with improved liquidity.
Which banks offer we.trade?