request finance

Using this option you can raise the funds from the bank for various business activities like to pay off your liabilities or for working capital requirement to start production of a new order. These funds are arrange by availing finance against your invoices.

You can select multiple invoices for a particular program and associated party to avail finance against those invoices or purchase orders. You will view maximum percentage allowed to avail that finance depending on the program and the associated party selected. The corporates can also request for a bulk amount of finance which is less total Financeable amount.

Pre-Requisites

User must be having a valid corporate login credentials for creation of program.

You are here How to reach here:

Dashboard > Toggle menu >Supply Chain Finance > Finance Management > Request Finance
OR
Dashboard > Toggle menu >Supply Chain Finance > Overview > Quick Links > Request Finance

To request finance:

Field Name

Description

Customer Name & ID

Displays the name and ID of the corporate account.

Party ID

Displays the party ID.

Associated Party Name

The Counter PartyClosedA party is any individual or business entity having a banking relationship with the bank. to view the invoices for requesting for Finance.

Program Name

The Program Name and ID to view corporate user's invoices to request for Finance.

Currency to be disbursed

The currency in which the disbursement of Finance is required.
  1. From the Associated Party Name list, select the Counter Party or the Anchor to view the invoices for requesting for Finance.
  2. From the Program Name list, select the Program Name and ID to view corporate user's invoices to request for Finance.
  3. From the Currency to be disbursed list, select the currency in which the disbursement of Finance is required.
  4. Click Submit to submit the request.
    OR
    Click Clear to reset the entered data.
  5. Based on the entered data, outstanding invoices are displayed.

Field Name

Description

Customer Name

Displays the name of the Corporate Account.

Party ID

Displays the party ID.

Program Name

Displays the Name of the program which has been selected for requesting finance.

Counter Party Name

Displays the Name of the counter party whose invoices would be selected for requesting finance.

Disbursement in Currency

Displays the selected disbursement currency .

Select Invoices

Displays the invoices having invoice status as Accepted and Partially Financed and payment status as Unpaid or Partially paid and overdue.

Select Invoices

Select the checkbox(es) against one or multiple invoices of same currency to request finance. Based on the selection Total Selected Invoices, Total Amount Selected, and Amount Requested for Finance get displayed.

Invoice Number & Invoice Due Date

Displays the invoice number and its due date.

Click on the link to view the details invoices selected in multiple currencies and there conversion rate.

Invoice Amount

Displays the invoice amount.

Accepted Invoice Amount

Displays the data as fetched from the invoice.

Maximum Finance Amount

Displays the maximum financed amount from the invoice.

Outstanding Amount

Displays the data as fetched from the invoice.

Net Finance Amount

Displays the Outstanding Invoice Amount or the Maximum Finance Amount which ever is lesser as the Net Finance Amount in respective currency.

Total Selected Invoices

Displays the number of selected invoices.

Total Amount in Disbursed Currency

Displays the disbursed amount along with the currency.

Total Amount Selected

Displays the total of Net Finance Amount of the selected Invoices in respective currency.

Amount Requested for Finance

Specify the amount requested for finance in respective currency.

The amount entered should be less than the total net finance amount of the selected invoices.
  1. Select checkbox against one or multiple invoices to request finance. Based on the selection Total Selected Invoices, Total Amount Selected, and Amount Requested for Finance get displayed.
  2. Click Request Finance to request finance against the selected invoice(s).
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate back to previous screen.
  3. The review screen appears. Verify the details, and click Confirm.
    OR
    Click Back to navigate back to previous screen.
    OR
    Click Cancel to cancel the transaction.
  4. The success message of request initiation appears along with the reference number.
  5. Click on the View Finances link to view the list of created invoices with their status.
    Click on the Supply Chain Overview link to go to Supply Chain Finance dashboard
    OR
    Click on the Go to Dashboard link to go to Supply Chain dashboard.

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