Promissory note discount

Quick | Simple | Transparent

1. CONTACT US

We only need a copy of the promissory note and the bill. You can fill out the following form, or if it is more comfortable for you, you can send it by WhatsApp

2. STUDY

No commitment needed. Within two hours we will give you an answer with no commitment on your side. Once we give the approval, we will ask for the necessary data to elaborate the contract and we will send it to you as soon as possible.

3. Your Money

As soon as we receive the signed contract and the promissory note endorsed, you will receive an immediate transfer.

This service is characterized by its speed and efficiency.
Each operation is unique and you can discount as many times as your business needs it.

✔ Without signing policies or going through the Notary.
✔ We do not apply withholding.
✔ You have an unlimited amount according to the rating of your client.
✔ The discounted amounts do not count in CIRBE’s banking risk.
✔ Rates adjusted to the expiration date and the risk of the drawee.
✔ Our risk analysis allows you to know the rating of your clients and avoid defaults.
✔ We offer the service of insuring your credits to protect your business even better.

 

At Workcapital we help you manage your company’s working capital through the Discount of Promissory Notes to Order, Promissory Notes Not to Order and Domiciled Payments.

The Discount of Promissory Notes is a financial service that allows the beneficiary to anticipate the collection, without having to wait until the due date, obtaining immediate liquidity.

In Workcapital you will find a team of professionals who will advise you and assess your study quickly, closely and transparently. Find out without any kind of commitment.

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At Workcapital we solve your doubts about the Discount of Promissory Notes

A promissory note is a credit instrument that contains the unconditional promise of a natural or legal person, committing to make the payment of a fixed sum of money within a specified period of time. This document is governed by Law 19/1985 July 16th, Exchange and Check.
There are multiple classification criteria. A frequent grouping is based on their nature of issuance To Order and Not To Order. In case the promissory note is not to order, this text must be specified in the document itself with the words “Not to order”.

The main difference between a note to order and not to order lies in its possibility of assignment through endorsement.

  1. Promissory notes : May be endorsed. It greatly facilitates the use of the promissory note to be able to obtain financing before the stipulated collection date, gaining liquidity. Notification of its transfer is not mandatory, transmitting security and faster payment
  2. Nominal Notes : They are similar to the previous ones, but without a clause to the order, although they can be endorsed to a third
  3. Not to order Notes : It may not be assigned to a third party by endorsement. The way to transfer it will be through a credit assignment. The assignment of a promissory note not to order must be communicated to the company that issued it in a reliable manner. They have a tax advantage since they are not obliged to pay for the Tax on Documented Legal Acts so, being free of stamps, there is a cost saving.

A Domiciled Payment is a payment document through which the issuer communicates that it will make the payment of a fixed amount, on a certain date, on behalf of a third party.

As it is not an executive title, the guarantees for the beneficiary are much smaller than in other types of documents such as promissory notes or bills of exchange.

Payment will be made from the date indicated in the document for payment. The Credit Institution is only obliged to make the payment as long as it has not received an express order not to pay and there is sufficient availability in the paying customer’s account. Therefore, it is not a document guaranteed by the Credit Institution that issues it, however, financial entities do not issue these payments to any company, we will normally receive them from companies (by order of these to your bank) of certain solvency. The debit account of the paying customer must always be indicated.

As they are not standardized documents, they are not transferable by endorsement, so a credit assignment must be carried out with reliable notification to the debtor with the same requirements as promissory notes not to order.

The main difference is that, with direct debit payments, the creditor is the one who initiates the collection operation.

In addition, a direct debit receipt has less legal weight than the promissory note, since the latter is signed by both parties, thus forcing the debtor to comply.

ISSUER: Also called DUEBOR or DEBTOR

Company or self-employed worker that implements payments for merchandise received or contracted services through the issuance of a promissory note in favor of its supplier.

BENEFICIARY: RECEIVER and ASSIGNOR of the Promissory Note

Company or self-employed worker that receives the commitment to pay at a future date from its client, for the goods delivered or services rendered.

FINANCIAL ENTITY

Company that advances the amount of the promissory note to the beneficiary, acquiring the rights to collect the promissory note. The assignor collects the promissory note before the due date, assuming interest on its advance.

The Non-recourse Promissory Note Discount is an exclusive product that allows you to protect your portfolio from non-payment by your clients, safeguarding you from any liability towards the debtor.

The interest to be applied in the discount of promissory notes depends on the term of the operation until maturity and the credit quality of the debtor. The transmission of the promissory notes to the order implies the payment of the Tax on Documented Legal Acts (IAJD), more commonly known as stamps . Its value varies depending on the face of the note.

Enter the Nominal Note to calculate the amount of Stamps :

(*) Direct debit payments and promissory notes not made to order are not subject to stamping.

  • – Tax Identification Code (CIF)
  • – Deed of Incorporation
  • – Deed of powers of the representative of the company
  • – ID of the representative
  • – Certificate of ownership of the bank account
(*) If Workcapital considers it necessary, it may request additional information to the previous documents

Fast Payment DiscountQuick
Response in 2h. Immediate payment
Fast Payment DiscountSimple
Formalization without signing policies, or going through a notary's office
Fast Payment DiscountStudy without commitment
Valuation without any cost
Fast Payment DiscountTransparent
We do not apply withholdings or additional commissions to the study price
Fast Payment DiscountEconomic
Rates adjusted to the expiration date and credit quality of the debtor
Fast Payment DiscountWithout CIRBE
The discounted amounts do not count in CIRBE's banking risk
Fast Payment DiscountUnlimited provision
Debtor classification, we do not analyze the client
Fast Payment DiscountPortfolio knowledge
Know the profile of your clients and avoid unpaid

Send Your Promissory Note Here

Fast Payment Discount
Quick
Response in 2h. Immediate payment
Fast Payment Discount
Simple
Formalization without signing policies, or going through a notary's office
Fast Payment Discount
Study without commitment
Valuation without any cost
Fast Payment Discount
Transparent
We do not apply withholdings or additional commissions to the study price
Fast Payment Discount
Economic
Rates adjusted to the expiration date and credit quality of the debtor
Fast Payment Discount
Without CIRBE
The discounted amounts do not count in CIRBE's banking risk
Fast Payment Discount
Unlimited provision
Debtor classification, we do not analyze the client
Fast Payment Discount
Portfolio knowledge
Know the profile of your clients and avoid unpaid

    On-line Promissory Notes Discount

    Take a photo of the promissory note with your phone and sent it to us here.
    It’s that easy!

    We are closer to you. We reply immediately providing a personalized service

    Service Vocation

    Our priority is to satisfy our client’s financial needs, always giving our best service. We are an independent financial company. Our values are non-negotiable: speed, proximity, efficiency and trust.

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