FAQ > What happens if an invoice I’ve sold isn’t paid?

What happens if an invoice I’ve sold isn’t paid?

If you sell us an invoice, receive an advance from us and your customer does not pay the invoice after 60 days of the due date, we will offer you the possibility of buying it back from us.  You would then effectively pay us the Advance Payment plus our fee for the duration of the purchase.  If you choose not to do this, we will hand the invoice to a reputable collection agency.   We understand that some of our clients want to retain control of their customers’ relationship, even if they are not getting paid on time and that is why we give you the option of buying back your invoice.

If the invoice remains unpaid for an additional 90 days (so 150 days past its due date), we will then claim on our insurance.  This gives you the peace of mind of knowing that you will never be left holding the bag.  Our insurance will provide you with 95% (excluding VAT) of your invoice value minus our fee.  You will then also be able to reclaim VAT from HMRC.

Because the finance you receive is partial recourse finance, you might, in some instances owe us some money if your customer pays their invoice very late (e.g., 140 days past the due date).