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Post by wiseclerk on Apr 25, 2017 14:01:33 GMT
Heads up: there is 242K left of a new very big Euro invoice with 12% interest and 90% export insurance
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Post by kristjan on Apr 25, 2017 14:08:24 GMT
Thanks! Here's a short summary of the invoice: The invoice was issued by an Estonian company that helps build museums and exhibition centres. They offer a full service from exhibition design, user-journey planning and engineering to building. They've completed numerous projects on time and in budget in Sweden, Finland and Estonia. The debtor is a Polish company that is listed on the Warsaw stock exchange. - The funding target is €343,900
- Maximum bid rate is 12% (min 10%)
- The funding period is 26 days
Risk management: - The invoice has been insured by KredEx Credit Insurance (KredEx Krediidikindlustuse AS), Estonia's state-owned insurance company that helps Estonian companies manage credit risks. The insurance covers 90% of the invoice.
- Investly also holds a personal guarantee from the seller company's owner in the amount of €360,000 (he owns several profitable businesses and four apartments).
For more information on the seller and debtor, please log in to Investly as I cannot mention the names here in public.  The company has said they are interested in long-term cooperation. This means they will be bringing large, 100k+, invoices to Investly every month (or every other month).
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Post by lllmlll on Apr 25, 2017 21:27:24 GMT
... For more information on the seller and debtor, please log in to Investly as I cannot mention the names here in public. The company has said they are interested in long-term cooperation. This means they will be bringing large, 100k+, invoices to Investly every month (or every other month). ... Are those future invoices to come going to be insured as well?
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Post by kristjan on Apr 26, 2017 7:56:30 GMT
Yes, future invoices will be insured against credit losses as well. The insurance covers up to 1.2 million in invoices. The company has said some of their invoices are larger, but they expect most to be around 100k.
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pauls
Posts: 68 
Likes: 36
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Post by pauls on Apr 26, 2017 14:23:43 GMT
I need a few defaulted invoices to settle first :-(
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Post by kilozulu on Apr 26, 2017 20:21:26 GMT
Yes, future invoices will be insured against credit losses as well. The insurance covers up to 1.2 million in invoices. The company has said some of their invoices are larger, but they expect most to be around 100k. You are saying that this company has insurance covering up to 1.2m of it's invoices? Meaning that once they get 1.2m of invoices defaulted, the rest is not insured? In such a case would be good to know what is their total invoice portfolio. A big difference if that is around 1.2m, or 12m:)
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p2pmaster
investment is life.
Posts: 128
Likes: 54
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Post by p2pmaster on Apr 27, 2017 11:57:10 GMT
Who is the beneficiary of this insurance policy? Is it Investly or the company itself, which reduce its usability in case of insolvency?
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Post by kristjan on Apr 27, 2017 12:28:07 GMT
You are saying that this company has insurance covering up to 1.2m of it's invoices? Meaning that once they get 1.2m of invoices defaulted, the rest is not insured?
In such a case would be good to know what is their total invoice portfolio. A big difference if that is around 1.2m, or 12m:)
Who is the beneficiary of this insurance policy? Is it Investly or the company itself, which reduce its usability in case of insolvency?
1. The beneficiary is Investly
2. The insurance covers 1.2 million in invoices that have been assigned to us. The insurance policy was bought to cover this and future invoices that they plan to finance using Investly. Once the 1.2 million limit has been used up, it's possible to extend the contract. This depends on the seasonal cash flow needs of our customer, of course. This is a large project and ties up a lot of capital, hence the need for financing.
3. pauls, we are working to make sure we recover as much as possible from defaulted invoices. Legal processes take a bit of time.
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The company has said they are interested in long-term cooperation. This means they will be bringing large, 100k+, invoices to Investly every month (or every other month).
