VINPay - Selling

For producers of Bulk & Bottled wines      

Removes non-payment risk 100% -  Faster access to operating cash -  All direct and VINEX traded sales invoices - No chasing late payments - Flexible, non-bank funding

• VINPay guarantees 100% payment of your wine invoices
• Plus, 80% of each invoice is paid in 3 days of dispatch
• VINPay is unrelated to your bank (asset backed) funding
• 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 be transacted through VINPay. You will receive guaranteed payment, plus cash access to 80% of your invoice in 3 days of each dispatch. VINPay does not differentiate between your direct sales invoices or invoices from trades completed through the VINEX marketplace. Either way, you receive the same assurance of payment and increased cashflow to invest and grow your business faster.    

Benefits

• Payment 100% guaranteed – eliminating commercial risk and reducing your need for credit insurance
• Capital liquidity – payment in 3 days of dispatch, providing greater business liquidity
• Reduces currency risk – receiving earlier 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 hidden fees, only lower costs and digital efficiency gains   

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

VINPay Settlement Fee  

We deduct a settlement fee from your invoice price when 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 or UK. 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 or GBP.
• 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 VINEX  

• 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 VINEX, but you will need to propose to the buyer your preferred payment arrangement.  

2.    Wines you sell directly to your current or new buying partners

• 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, 90 or 120 days from your wine dispatch date.
• VINPay provides your buyer with an option to extend their payment due date by an extra 60 days for a fee - this is optional. The payment extension does not change your original invoice’s due date and payment by VINPay of the 20% balance.  

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 Sale & Purchase Agreement.
• If the buyer’s payment is overdue, VINPay and its insurer will take a series of steps of progressive steps 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. The payments are flexible and accessible by you when invoicing each credit approved buyer.   

Only one Settlement fee applies when transacting through VINPay.