Purpose of an immediate payment

The purpose of an immediate payment is to finance an invoice in a fast, simple and inexpensive way.

This immediate payment is a new financial tool for B2B businesses.
The invoice issuer gets paid immediately.
The invoice receiver gets 60-90 day payment terms.

What steps are there?

An invoice is issued by the invoice issuer to the invoice receiver.

A Creditstretch Agreement is made by Fellow Pay.

Both the invoice issuer and invoice receiver sign the agreement digitally.

Fellow Pay then pays the invoice issuer with immediate bank transfer.

60-90 days later the invoice receiver pays the owed amount directly to Fellow Pay.

Video of the process

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Immediate payment

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Requirements to complete an immediate payment

To complete an immediate payment we need the following from you:

• provide a valid invoice
• provide all the necessary information on the companies (invoice issuer and invoice receiver)
• provide mandatory KYC information (information on the Ultimate Beneficial Owners)
• both parties sign the Creditstretch Agreement

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How is the cashflow?

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Who can get an immediate payment?

If you can check the following list then an immediate payment can be made:

✓ Invoice receiver is A/S or ApS

✓ Invoice receiver is creditworthy

✓ Invoice value of kr. 50.000-1.000.000

✓ Signed by authorized signatories

✓ Business is B2B

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Which invoices can be used?

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When are you creditworthy enough?

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How to register in the bookkeeping

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Invoice issuer's responsibility and benefits

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Invoice receiver's responsibility and benefits

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Fellow Pay’s responsibility and risk

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FAQ

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