Stenn pays the face value of an invoice in two steps:
We initially pay 90% of the invoice’s face value after the invoice’s goods are shipped. We hold as a reserve the remaining 10% for our fees, potential offsets, late payment charges, etc.
We pay the remaining 10% of the invoice face value (minus any deductions) once the buyer settles (in full) the invoice.
We make all payments to your bank account.
In those instances when we are required to utilise trade credit insurance, we charge a fee of 0.32% applied to the face value of each invoice regardless of payment terms (so charges are the same for 30-day invoices as they would be with 90-day invoices). There are no other hidden charges.