Get answers to some common questions
Who is a Buyer
The buyer is an entity, who purchases the goods and / or avails the services offered by micro, small and medium enterprises (MSMEs) as defined in MSME Development Act, 2006.
Who is a seller
A Seller is a Micro, Small and Medium Enterprises (MSMEs) who supplies goods and / or services to the buyers.
Who is a Financier?
It refers to a financial institution participating in TReDS with a view to lend money. The financier provides finance to the MSME seller.
What documents are required to be submitted for registering my entity?
It depends on the constitution of your entity. Please visit ‘Contact Us’ page to get in touch with our Team.
Is there any agreement to be signed with Invoizo?
You need to enter into only one master agreement – with Simplyfi Softech India Pvt Ltd.. This will enable you to participate on the platform without having to enter multiple agreements in the future course of time.
Is there an option to post Buyer’s inventory requirement to more than one supplier on Invoizo ?
Yes. Invoizo provides marketplace, wherein you can broadcast your requirement to multiple sellers available on the platform.
Do I need to share my entity’s bank account details with Invoizo ?
Yes. You need to provide the bank account details along with the official email ID and contact no. of the Branch Manager along with full address of the bank branch for future correspondence with Invoizo. This can be provided at the time of KYC details submission.
Does the buyer have an option to extend the tenor of the invoice?
No, the extension of the Invoice tenor by the buyer is not allowed by Invoizo.
What is the role of Invoizo in case of failure of payments, between buyer and seller: and seller and financier ?
Invoizo does not entail guaranteed payments. It is outside the purview of the platform and needs to be settled bilaterally between the respective players.
How are MSME’s defined?
MSMEs are defined under the MSMED Act, 2006 on the basis of the gross investment in plant & machinery and / or equipment.
|Enterprise Category||Manufacturing (Investment in Plant and Machinery)||Service Sector (Investment in Equipment)|
|Micro||Does not exceed Rs. 25 Lakh||Does not exceed Rs. 25 Lakh|
|Small||More than Rs. 25 Lakh but does not exceed Rs. 5 Crore||More than Rs. 10 Lakh but does not exceed Rs. 2 Crore|
|Medium||More than Rs. 5 Crore but does not exceed Rs. 10 Crore||More than Rs. 2 Crore but does not exceed Rs. 5 Crore|
What type of financial institutions qualify for registering on Invoizo platform?
Banks and NBFC’s who are into factoring business are qualified for getting registered as financiers on the platform.
Does the seller have an option to pre pay or delay the financed amount?
Yes. The seller can pre-pay or delay the financed amount to the financier and the interest calculations will be applicable as the case be.
Is it necessary for both buyers and sellers to be on Invoizo ?
Yes. In case the buyer is not registered on Invoizo, the seller may request or refer his buyer to register or can contact Invoizo personnel to get in touch with Buyer and get registered. The same can be followed if Seller is not registered.
How does a financier ascertain the credit worthiness of a seller?
Invoizo will share the credit assessment report, as done by our partner credit rating agencies. You may also use your existing processes to assess the credit worthiness of a seller.