VINPay - Lieferanten

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Suppliers - Bulk & Bottled Wines      

Removes 100% non-payment risk  -  Increases your operating cash liquidity  -  No trading commissions  - No chasing late payments

• VINPay guarantees 100% payment of your wine invoices
• Plus, 80% of each invoice is paid to you within 3 days of dispatch
• VINPay introduces more quality buyers and sales opportunities
• Enables you to invest and grow your business faster

All wine sales (bulk and bottled) sold directly to your customers (or traded through VINEX) to approved buyers, can now be transacted by VINPay. You will receive guaranteed payment, plus cash access to 80% of your invoice within 3 days of each dispatch with no broker or trading commissions to pay. VINPay does not differentiate between your direct sales invoices or invoices from trades completed through the exchange. Either way, you receive the same assurance of payment and increased cash operating liquidity.    

Supplier Benefits

• Payment 100% guaranteed – eliminating commercial risk and reducing credit insurance costs
• Capital liquidity – payment within 3 days of dispatch, providing greater business liquidity
• Reduces currency risk – receiving the advanced payment, if not invoicing in your local currency
• Approved buyers – independently verified and VINPay credit approved quality buyers
• Non-bank funding – flexible, and unrelated to any asset-backed bank funding
• Industry-leading value – no separate trading fee applies, only one VINPay Settlement Fee 
• Lower supply transaction costs – zero trading fees and digital efficiency gains  

VINPay Settlement Fee  

We deduct a settlement fee from the wine price that the buyer agrees to pay.

Q&As      

How does VINPay work?

• VINPay is available to all verified and registered buyers and sellers responsible for the legal ownership and transfer of a wine. Brokers and agents are not eligible for VINPay.
• Buyers must be located in the European Union, UK, US or Canada. Other markets will be available soon.
• All transactions operate under a tri-party agreement, between you, the buyer, and VINPay.
• All invoices are settled in the supplier’s major currency, either EUR, USD, AUD, NZD or ZAR.
• VINPay deducts a scheduled Settlement Fee from the funds advance transferred to you.
• A minimum fee of €300 (or your local currency equivalent) applies to the total value of each transaction (which can be one or multiple invoices).  

1.    Wines sold through the exchange   

• With VINPay credit approved buyers, we guarantee payment of your invoices, plus 80% of each invoice is paid within 3 days of dispatch for domestic sales (and on the buyer’s acceptance of a pre-dispatch sample for exports). The remaining 20% is paid to you by VINPay within 3 days of your invoice due date, adjusted for any agreed discounts, rebates or quantity variances.
• All trades (to credit approved buyers) provide invoice payment terms of either 60 days or 90 days from dispatch.
• If the VINPay buyer has zero credit limit, the trade can still be completed through the exchange, but you will need to propose to the buyer your preferred payment arrangement.  

2.    Wine sold directly to your current buyers

• All wines sold directly by you (to VINPay approved buyers) can be settled through VINPay to receive guaranteed payment and earlier cash access.
• The Settlement Fee, detailed above applies to all invoices settled through VINPay.  
  

What does VINPay provide the buyer? 

• VINPay provides all credit approved buyers with payment terms of 60 days or 90 days from your wine dispatch (incoterm) date.
• VINPay provides the buyer with an option to extend the payment due date of an invoice by an extra 60 days for a +60D Extension fee. The payment extension does not change your original invoice’s due date and payment by VINPay of the remaining 20%.  

What if the buyer doesn’t pay VINPay? 

• VINPay still pays you. We and our insurer are responsible for collecting all invoice payments, provided all supply conditions have been met including receiving a signed Proof of Acceptance from the buyer (or in the case of export a pre-dispatch sample), and the buyer’s acceptance of each wine delivery. It remains your responsibility to deliver the wine to the buyer in a condition as per the signed Tri-Party Sale & Purchase Agreement.
• If the buyer’s payment is overdue, VINPay and its insurer will take action to recover the payment, which may include making a credit insurance claim, legal recovery proceedings and a down-grading or removal of the buyer's credit limit.
• VINPay does not take security over your wine or winery assets. Funding is flexible and accessible by you when invoicing a credit approved buyer.   

No VINEX Contract Fee applies when transacting through VINPay.