How to collect promissory notes before expiration?
collect by promissory note it is common when you work with certain companies and organizations.
It is a legitimate and widely used payment method that you should know about as soon as possible.
Do you know what the promissory note discount?
It allows you to collect today the financial promissory note which would be released upon expiration.
what is a promissory note
El financial promissory note is regulated by law.
It is a payment method very similar to a check or bank statement.
However, it presents a substantial difference:
“payment will not be made until its due date”
In other words, a financial promissory note It is a payment instrument or document with an established date for its exchange.
Before her, in principle, you cannot get the referred money.
Therefore, it is interpreted as a promise to pay as of that expiration date.
The person who signs the promissory note is called the subscriber, debtor or freed and, who owns it, beneficiary, drawer or fork.
Therefore, receiving these financial documents implies having to wait patiently for the moment to obtain the payment.
This situation represents a serious problem for many companies and professionals because cash flows do not understand deadlines, income must arrive on time to meet all the expenses that must be paid.
Therefore, you may be interested in anticipating and collect your promissory note before the expiration date.
It's possible?
Yes, thanks to promissory note discount you can receive the money in advance
Do you want to know what it is?
How can I cash a promissory note before its maturity?
El promissory note discount It is a financing procedure by which a company can obtain immediate liquidity.
The method is simple, you assign a promissory note and collect it before its maturity.
In exchange, the entity acquires the collection rights of the commercial note.
When are you interested in doing it?
As long as you have one liquidity urgency, for example, pay the payroll, VAT or various monthly expenses.
Promissory Note Discount Rates
If you decide to collect the promissory note before its expiration using the discount, keep in mind that there are two possibilities:
- – With recourse. If a default occurs, both the debtor and the holder are jointly and severally liable.
- – No recourse. In this case, the opposite occurs. The financial entity assumes the consequences of this non-payment and must litigate or negotiate with the issuer of the bill to collect it.
The cost of a non-recourse promissory note is higher because a way of recovery is lost if a default occurs.
Therefore, the financial entity runs a greater risk of losing its investment if the payment, finally, is not made in a timely manner.
Promissory note discount procedure
Actually, the mechanism for discounting promissory notes is easy to understand and carry out.
This is the process:
- 1. You have a promissory note from a client with a more or less long maturity, which responds to the payment of an issued invoice, corresponding to a service or product delivered.
- 2. You contact a specialized company in promissory note discount.
- 3. You sign a contract with that entity, in which it is specified, among other aspects, if the discount is executed with or without recourse.
- 4. You assign the promissory note and you transfer ownership.
- 5. The financial institution pays you the amount in advance and you get the liquidity immediate you need.
As you see, you can collect a promissory note in advance through an intermediary financial institution quickly and easily.
workcapital is a company specialized in this activity, in which you will find transparency and dedication.
Why don't you contact us to solve your liquidity problems?
Discount Online Promissory Notes
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