VINPay - Buying
[Introducing another global wine trade innovation by VINEX]
For buyers of Bulk & Bottled wines
Negotiate quick payment prices - Receive 150 days to pay - Preserve your cash flow - Suppliers will appreciate the option
VINPay pays your supply partners invoices (on your behalf) in 3 days of each wine dispatch, and you can benefit:
- Negotiate best available advance payment terms and save
- Receive your standard 60, 90 or 120 day payment terms
- Plus, receive an optional extra 60 days credit (to max. 150 days)
- Your suppliers will really appreciate your earlier payment!
All your purchases of bulk and bottled wines, either sourced directly by you from your supply partners or through VINEX, can now easily be settled through VINPay enabling you to negotiate 'cash price terms' and save (plus receive extended payment terms to 150 days).
To transact through the VINPay you need to have a pre-approved credit limit and register an account on the VINPay platform. For details, email us: firstname.lastname@example.org
Negotiate cash pricing – lower purchase prices and achieve attractive savings
- Maximise your cash flow – further delay invoice payments to preserve cash
- No more deposits or prepayments – maximise cash to increase business growth
- Non-bank funding – flexible, and non asset-backed funding
- No financial information is required by VINEX
- Applies to all purchases – transact direct or VINEX traded purchases
- Reduce currency risk - pay invoices in your local currency (GBP, EUR or USD)
- Approved VINPay sellers – all suppliers are verified and trust rated
- Lower transaction costs – benefit from lower fees and digitial efficiency gains
- +60 Days Credit – extend payment terms, up to 150 days
Finally, non-bank funding that enables me to preserve cash for when we need it most.
Name withheld, Importer, United Kingdom
For us Vinpay was a positive experience. Something we would be happy to repeat.
Christophe Pans, Export Director, Vitivinicola Cremaschi Barriga, Chile
It worked very fast and we were surprised by the new payment method. Thank you VINEX, Vinpay is very lucrative and our buyer will also be happy!
Ion Mereuta, General Manager, Asconi SRL, Moldova
Extend Invoice Payments to 150 days
VINPay provides you with an option to purchase an extra 60 days credit for a +60D Extension fee.
|All Wine Purchases||VINPay Settlement Fee||Extra Credit Term||+60D Extension Fee||Total Credit Term|
|60 Days Credit||Supplier||+60 Days||1.6%||120 Days|
|90 Days Credit||Supplier||+60 Days||1.6%||150 Days|
Select Chat to ask us a question,
or email at: email@example.com
How does it work?
VINPay is available to all verified and registered buyers and sellers responsible for the legal ownership and transfer of a wine. All buyers must register with VINPay and have a pre-approved credit limit. All transactions operate under a rolling agreement, between you, the seller and VINPay. All invoices are settled in the supplier’s major currency, either EUR, USD, AUD, NZD or ZAR. You have an option to pay for invoices in either GBP, EUR or USD; based on live cross-market rates.
Payment of all invoices must be made to VINPay by electronic transfer, on or before the agreed due date in cleared funds.
If you extend an invoice’s payment due date by +60 days, an extension fee is payable.
A minimum +60D fee of €300 (or your equivalent currency) applies.
1. Wines purchased through the exchange
- All wines purchased through VINEX can now be settled through VINPay, provided you have a pre-approved credit limit. Suppliers agree to pay one Settlement Fee which is deducted from the advance payment they receive, being 80% of their invoice in 3 days of dispatching wine, with the balance paid in 3 days of the invoice due date (being either 60, 90 or 120 days from dispatch).
- You have the option to extend each invoice’s payment terms by +60 days.
- If no VINPay credit limit is available, then transactions cannot be settled through VINPay, and the supplier will be required to offer to you a separate payment arrangement.
2. Wines purchased directly, from current or new suppliers
- All wines purchased by you directly from your existing supply partners can be settled through VINPay, provided you have a pre-approved credit limit and your supplier agrees.
- In addition to you negotiating an earlier payment purchase price, you also have the option to extend each invoice’s payment payment up to 150 days.
Ask us a question by selecting Chat, or email us at: firstname.lastname@example.org
How am I protected, making sure I receive the wine that I approved?
It remains the supplier’s responsibility to deliver the wine as per a rolling agreement. VINPay also requires a signed Proof of Acceptance following each delivery - for export purchases your acceptance of a pre-dispatch sample (prior to your supplier loading the wine).
Let us know if you have any questions, Select Chat, or email us at: email@example.com to register, and then start offering prepayment terms to your preferred supply partners.