Confirming On-Time...4 – – On-s. 2. Confirming On-Time Warranty We make everything to guarantee...
Transcript of Confirming On-Time...4 – – On-s. 2. Confirming On-Time Warranty We make everything to guarantee...
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Confirming On-Time
Get more advantages
and get paid easily
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1. Confirming On-Time.........................................................................................3
2. Confirming On-Time Warranty............................................................................ 4
How Confirming On-Time Warranty works........................................................... 5
3. Confirming On-Time Payments............................................................................6
How Confirming On-Time Payments works....................................................... 7
4. Confirming On-Time - online functions for Suppliers.................................................. 8
Index
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1. Confirming On-Time
Confirming On-Time (reverse factoring), part of the Cash On-Time Solution of Millennium bcp, consists of a
management service for payments of Companies that are Clients of Millennium bcp to their suppliers.
Through Confirming On-Time, the Bank sends Payment Notices to Suppliers in two different ways, depending on the
type of service and collaterals given:
Confirming On-Time Warranty - the Bank guarantees the firm and irrevocable payment of the invoices to the
suppliers
Confirming On-Time Payments - the Bank acts as payments manager for the Company
In addition, suppliers will be given the possibility of receiving the amounts payable in advance, online and in an
extremely simple manner, even if they are not customers of Millennium bcp.
Because Millennium bcp knows that good companies make good deals
we created flexible and innovative solutions
able of turning collections into simple and fast actions
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2. Confirming On-Time Warranty
We make everything to guarantee that you get paid
The Confirming On-Time Warranty ensures the suppliers, in a firm and irrevocable manner, the settlement on the
respective maturity date of the Payment Orders issued by their Customers through Millennium bcp, ensuring also the
possibility of early payments.
Associate even more advantages to getting paid easily:
Guarantee of payment and of early payments and systematic reception of information on the invoices to pay;
Access to the website www.millenniumbcp.pt to get all updated information and make advance requests even if you
are not a Millennium bcp customer;
Guarantee of liquidity by means of a guaranteed advance of funds that will not represent additional indebtedness:
to meet eventual Treasury needs;
permanently, whenever Payment Orders are issued;
to credit accounts with Millennium bcp or with another Bank.
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2. How Confirming On-Time Warranty works
Supplier (Seller)
(*) The charges associated with the advance request, when paid by the suppliers, will be deducted from the amount of the Payment Notice (PN)
to be paid earlier.
Company (Buyer)
Issues and sends Invoices 1
Debits the demand
deposit account for the
amount of the Payment
instructions
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Sends Payment Notices 3
Payment
Guaranteed
Sends Guaranteed
Payment Instructions 2
Requests Funds advance
Mbcp makes the early payment (*)
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Warrantyof
Liquidity
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3. Confirming On-Time Payments
We will do everything to guarantee that you get paid fast
Confirming On-Time payments is a service that manages the payments made by the companies, wherein the Buyer
delegates to Millennium BCP almost all the tasks that payments involve. The Bank acts on behalf of the Buyer and
manages the payments the Buyer makes to its Suppliers.
Get paid and get even more:
The Bank becomes the entity centralizing the payments of the client
A simpler and more efficient collection administrative procedure that provides you with an increased treasury
control;
Go to the website www.millenniumbcp.pt to get all updated information and request for advances, even if you are
not a Customer of Millennium bcp;
On a case by case basis, you may request the advance of funds to meet eventual treasury needs.
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3. How Confirming On-Time Payments works
Supplier (Seller)
(*) The charges associated with the advance request, when paid by the suppliers, will be deducted from the amount of the Payment Notice (PO)
to be paid earlier.
Company (Buyer)
Issues and sends Bills 1
Debits the demand
deposit account for the
amount of the Payment
instructions
5
Sends Payment Notices 3
Sends Payment
Instructions 2
Possibility of requesting a
Mbcp Funds Advance 4
According to the
available ceiling
The bill is paid to the
supplier on its maturity
date
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4. Confirming On-Time: Online functions for Suppliers
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onfi
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uppliers
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4. Confirming On-Time: Online functions for Suppliers
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MT2556 –
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tion – C
onfi
rmin
g O
n-T
ime S
uppliers
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d,
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ent
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ncontr
olled c
opy.
Confirming On-Time
For more information contact your Client Manager or go to a Millennium bcp Branch.
All proposals are object of a risk analysis and credit assessment made by Millennium bcp.
This document does not represent a contractual proposal.