This service offers a 6 month credit facility, guaranteed to minimize your credit facility risk.
We assess your risk and once approved, we guarantee it on a month-to-month basis.
How it works:
- If you haven't signed up with us yet, complete our merchant application form, make payment and email to RAS.
- Once submitted (including any credit bureau reports drawn and supporting documents), assessment will be done and approved or declined within 24 hours. On approval, notification will be sent with a certificate as well as an invoice for the first monthly fee payable.
- Provide a detailed statement of the specific client on the first day of each month during the guarantee period.
- Notify us when your client fails to pay and it will be followed up immediately. If unsuccessful, we will reimburse your loss after which you may not offer the specific client a further credit facility without our written consent.
- Monthly fees are payable in advance and work on a sliding scale depending on the specific client's outstanding balance on the last day of every month.
- The facility is re-assessable on a month-to-month basis for the duration of the guarantee. Provide your specific client's payment profile or statement by the end of each month for monitoring purposes.
- You can opt out at any time by notifying us and settling any due amounts.
- Phone our legal department in this regard @ +27 (0)51 436 0988.
FAQ: When will I be reimbursed?
You will be reimbursed within 3 weeks after the debtor has defaulted.