Cash-In-Advance Payment Terms #
- When an order is placed, Grovara collects payment from the Buyer then pays the Brand for the order. This releases the purchase order to the Brand which signals to the Brand to begin fulfillment.
- Grovara itself does not extend payment terms to Buyers on behalf of a Brand.
- Given the large average order volume for international sales, Buyers prefer Net X payment terms.
Net X Day Payment Terms #
In order to help Brands process orders faster and secure larger orders, Grovara enables Brands to extend payment terms to Grovara, which in turn enables Grovara to extend the payment terms to the Buyers.
For the due date of the Buyer’s payment to Grovara, payment days start counting down from the date the order is shipped.
For the due date of Grovara’s payment to the Brand, payment days start counting down from the date the order is shipped.