Germany-based supply chain finance platform Traxpay and wholesale company Landgard have announced launching the new Traxpay program "Digital Guarantees" to protect against payment defaults.
The Landgard producer cooperative is already using the Traxpay financing platform with the Dynamic Discouting early payment programme. With the new guarantee concept, the risk of non-payment is secured with a bank guarantee. Germany-based commercial bank NORD/LB will act as a joint cooperation partner behind the guarantees.
According to a Landgard representative, with Traxpay's dynamic financing platform, the company’s suppliers have been able to speed up the payment of their outstanding invoices to improve their liquidity. With Digital Guarantees, together with Traxpay, the guarantee amount will be paid out on first demand without any deductions. Thus, suppliers will receive an alternative to classic credit insurance access to financing and security options.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now