Trade Receivables Solutions

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1 Trade Receivables Solutions

2 With GSCF, you can improve your working capital without compromising relationships in your supply chain. Our Trade Receivables Solutions let you shorten your and extend the DPO of your Buyers, allowing you to; Improve liquidity for you and your Buyers Enhance your Balance Sheet working capital position Increase competitiveness by extending Buyer payment terms Reduce credit risk by transferring to a third-party Obtain attractive short-term financing DPO We offer a range of solutions tailored to your needs. DPO = Days Sales Outstanding/ Receivables days DPO = Days Payable Outstanding/Payables days 2 Trade Receivables Solutions

3 Which program is right for you? Are you the Seller or Buyer in the relationship that needs liquidity? YES Do you need to improve liquidity in your supply chain? NO BUYER SELLER Will the Seller accept being legally involved? Seeking to shorten or extend Buyers DPO? BOTH YES NO DPO financing Trade payables financing Factoring Extension of Buyer Terms Distribution Financing Receivables servicing Buyers extended payment terms and offers s access to financing, based on the higher credit rating of the Buyer. Buyers looking to extend their payment terms, to s who do not offer such extensions. Improve your cash flow by accelerating your cash collections and reducing your credit collection risk. Increased payment terms to your Buyers without impacting your working capital or balance sheet. Maximising benefits for all stakeholders by combining reduced for s and longer DPO for Buyers. Automatic payment reconciliations, reduced administration costs and improved data visibility. Trade Payables Solutions Trade Receivables Solutions 3 Trade Receivables Solutions FUNDED UNFUNDED

4 Factoring Program overview Factoring allows you to improve your cash flow by accelerating your sales collections from a defined portfolio of Buyers. A sells their trade receivables to a Funder, at a discount, accelerating their cash inflows. The Funder assumes the credit risk and is repaid by the Buyer at the invoice due date. GSCF works with you at every stage to understand your requirements and setup a program that matches your needs. = Buyer DPO If the program achieves True Sale accounting treatment, the can remove the factored receivables from their Balance Sheet. Funders usually obtain credit insurance to cover their risk of Buyer default. Benefits to Improved cash flow Low cost short-term financing Balance sheet benefit reduced s DPO As well as all the benefits of Accounts Receivable Servicing (page 6). Buyer Benefits to Buyer Trading terms with the Buyer remain unchanged Ideally suited to s with high-volume sales to a portfolio of credit assessable Buyers. Who are seeking to increase liquidity and reduce credit risk. 4 Trade Receivables Solutions

5 Extension of Buyer Terms = Buyer DPO Program overview Benefits to By offering your Buyers increased payment terms you can enhance Buyer relationships and increase sales. The extension is Off-Balance Sheet; meaning no impact to your credit risk, Balance Sheet or working capital. Enhanced Buyer relationships and competitiveness by offering increased payment terms Timely settlement of receivables by Funder leads to predictable cash forecasts for Mitigated credit risk (transferred to Funder) Increased sales from Buyer liquidity benefits Off-Balance Sheet, does not impact your working capital. Alongside all of the advantages from Accounts Receivable Servicing (page 6). Benefits to Buyer Balance Sheet benefit - increased DPOs Enhanced relationship and competitiveness by receiving increased payment terms Improved cash flow Buyer DPO Ideally suited to s with high-volume sales to a portfolio of credit assessable Buyers. Who are looking to increase sales by offering attractive payment terms to their Buyers without impacting their own Balance Sheet position. 5 Trade Receivables Solutions

6 Distribution Financing Buyer DPO Program overview Financing program sponsored by the for a selected portfolio of Buyers whereby The is paid earlier by the Funder Buyers obtain extended payment terms Due to the large-size and complexity of this type of program, Funders and s prefer to leverage GSCF s expertise. GSCF has an extensive track record of setting up and managing Distribution Financing programs for large blue-chip companies. If the program achieves True Sale accounting treatment, the can remove the factored receivables from their Balance Sheet. GSCF manages the complete program including on-boarding of Buyers, credit and collections, and reporting. Distribution Financing programs are typically credit insured depending on the size and risk of the portfolio. Buyer DPO Benefits to Enhanced Buyer relationships and competitiveness by offering Buyers increased payment terms. Improved cash flow with Balance Sheet benefit reduced Improved liquidity enables increased sales to Buyers Reduced credit risk (transferred to Funder) Timely settlement of receivables leads to more accurate cash forecasts As well as all the benefits of Accounts Receivable Servicing (page 6). Benefits to Buyer Balance Sheet benefit - increased DPO Enhanced relationship and competitiveness by receiving increased payment terms Improved cash flow Ideally suited to s with high-volume sales to a portfolio of credit assessable Buyers. Who are seeking to increase sales whilst maximising liquidity and reducing credit risk. 6 Trade Receivables Solutions

7 Program overview Your company outsources its credit and collection tasks to GSCF, who then manages your complete receivables processing; invoice & credit note management Receivables Servicing = reconciliation of Buyer payments management of individual Buyer credit limits collection of Buyers financial statements and performing credit analysis credit rating & monitoring of Buyers automatic alerts and notifications of due and late payments = Buyer DPO Benefits to ensure compliance with credit insurance policy Increase monitoring of Buyers and reduce credit risk Enhance credit & collections function Reduce admin tasks and costs We can assist the to obtain credit insurance and using our systems can lead to higher coverage. Platform and external communications can be white labelled per preference. DPO Benefits to Buyer Trading terms with the Buyer remain unchanged. Buyer Ideally suited to s with high-volume sales looking to streamline credit and collection tasks whilst improving their risk management. 7 Trade Receivables Solutions

8 Our software platform Our proprietary technology platform offers unparalleled flexibility and automation for management of supply chain finance programs. Some benefits include; Multi-currency, multi-lingual platform designed for your global requirements Fully automated processing that reduces administration costs and risk of manual error Credit limit approvals at Purchase Order stage Real-time payment reporting empowering your business to make informed credit decisions Technically integrated with Funders and credit insurers for reduced administration and faster credit limit approvals Visibility Automation Ease of Use Web portal so you can always access your program information. Easy to understand, customisable dashboards at summarised and detailed levels. Identifies and notifies stakeholders of potential credit risks automatically. Automated notifications and alerts customized to your requirements Real-time reconciliation of payments to invoices and available credit limits Credit limit requests automatically sent to approvers enabling faster processing Processing in accordance with credit insurance policy conditions, always ensuring compliance A system that points you in the right direction letting your people know what requires their attention. Extensive training from our multi-lingual operations teams located across Europe and the Americas. ISAE3402 ASSURED Our in-house development team allows us to add further individual features if required. 8 Trade Receivables Solutions

9 Typical Program Cycle 1 1 Order Placement 2 Invoice and goods sent out 2 Buyer 3 uploads invoice data to GSCF system Invoices verified by Buyer Report sent to confirm amount due to from Funder 8* 6 Funds paid to by Funder 7 Report sent to Buyer confirming amount payable and due date 5 8 Buyer pays amount due to Funder on agreed terms 6* * FUNDER Notes * By changing the timing of steps 6 and 8 relative to standard credit terms determines the improvement in and DPO for and Buyer. 9 Trade Receivables Solutions

10 FAQs 1. What type of Buyers could be considered? GSCF can consider any type of Buyers, as long as they are credit-assessable and have an established relationship with the vendor, showing a good trading track record. Buyers in A/R based programs are typically distributors or resellers, although they can effectively be from any industry operating with open-account. GSCF recommends providing a well-diversified portfolio of Buyers that are not in distress. 2. Are programs disclosed or undisclosed to Buyers? Programs can be structured to the preference of your company. 3. Is there a cap on the program size or number of Buyers involved? There are no limitations in terms of program size cap or maximum number of Buyers involved in a program. GSCF can set-up and manage sizeable A/Rbased transactions with a total program limit in the billions of dollars with hundreds of Buyers. GSCF has special features that assist large deals, such as participation management (for Funders that bring in participants) and watch-lists/scorecards/dashboards (for credit managers overseeing large portfolio of Buyers), amongst others. 4. What is GSCF s experience with credit insurance? GSCF has a vast and successful experience with credit insurance, having long-standing partnerships with the world-largest credit insurance companies. GSCF can help in both - structuring insured-programs, i.e. finding the right underwriter/s and assisting in the insurance policy drafting; and also servicing insured-programs, ensuring that the company stays compliant with the conditions of the policy at all times. Credit insurers appreciate the risk management tools and transparency granted by GSCF s processing and tend to have increased appetite on GSCF-managed programs. 5. How much will a program cost? SCF programs are designed to be more competitive than short-term bank financing due to the lower level of credit risk taken by the financing party (Funder). Program cost will be determined by: The term of financing required The level of credit risk involved for the Funder Possible use of credit insurance on the Buyer(s) Level of processing complexity involved i.e. multiple currencies/jurisdictions Legal setup costs (depends on country) 6. How long after sale of invoice can I receive payment? A minimum of one week is needed, depending on the program Funder. 7. What is the accounting treatment of an A/R program? GSCF can structure A/R-based programs whereby the (also called Seller, Originator or ) sponsoring the program achieves True Sale of the trade receivables sold to the program Funder. This means that the A/Rs are taken offbalance sheet, allowing the to reduce Days Sales Outstanding (s) thus enhancing its working capital and operating cash flow. It is worth noting that the accounting treatment will be ultimately defined by the company s auditor and will depend on the applicable accounting rules. 8. Will there be a level of recourse required? Typically there is a certain level of recourse to the required, but not always. This depends on the level of risk involved for the Funder. Where recourse to the is required, GSCF s structuring experts will work with your business to achieve True-Sale accounting treatment. 9. What information would you need from us during the program? In order to initiate discussions on program parameters and the evaluation of an A/R portfolio, we will request you to complete and return an application providing details on the Account Debtors (Buyers) such as annual purchasing volumes, payment terms to be granted, aging of Receivables, etc. During the day-to-day operations of a program the is only required to submit the Accounts Receivable data to GSCF and this procedure can be fully automated and supported via a range of industry-standard formats and transmission methods. 10 Trade Receivables Solutions

11 10. What are the key milestones and timelines to implement a program? Below is a high-level overview of the steps leading to the successful implementation of an A/R financing program: Initiation: Submission of A/R portfolio and collection of your financing requirements. Structuring: GSCF reviews with its partner financing institutions, including credit insurance providers if required, and reverts with an indicative Term Sheet explaining the solution structure proposed for your consideration including: Credit limits for Buyers in the portfolio Terms of the program, including payment terms offered to Buyers Initial pricing estimate Conditions precedent to program activation e.g. Buyer financial statements Information required for a final offer Process Definition: Once the Term Sheet is signed and we approach activation of the program, our Business Operations team collects your reporting requirements and performs any implementations required in order to customize our platform and its capabilities to your specific needs. Activation: Once the applicable agreements are executed, we will perform the final steps leading up to program activation, such as: Conduct technical discussions and perform testing for transmission of A/R data to GSCF s platform. Perform onboarding of Buyers in the portfolio Conduct training sessions on using our web-accessible portal Set up user accounts and accesses to the program portal 11. How will GSCF support my business once our program has been activated? Upon setting up a program a dedicated Credit Operations team will be assigned to the program and will be responsible for activities such as performing and monitoring day-to-day tasks and communication related to the program, as well as handling queries and requests. 11 Trade Receivables Solutions

12 To learn more about our products, technology platform and financing options please contact a member of our team. Matthew Reddington Business Development Manager Direct Asad Umar Business Development Manager Direct Global Supply Chain Finance Limited Tel Fax Gotthardstrasse 2, 6300 Zug, Switzerland 12 Trade Receivables Solutions

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