From insolvency protection to coverage for protracted defaults, Octet has you covered
When added to our Debtor Finance facility, Octet Buyer Protection safeguards your business from the misfortune of bad debts.
- Protect your receivables against insolvency and protracted default events.
- Enjoy extensive coverage for up to 90% of the protected debt.
- Includes easy, discounted collection costs for eligible overdue protected debts.
- Let Octet handle all the paperwork and applications, leaving you free to focus on what you do best – growing your business.
Octet Buyer Protection provides a shield against unforeseen events
Insolvency Protection: In the unfortunate event of an insolvency, including the appointment of administrators or liquidators, Octet Buyer Protection steps in to safeguard your interests. Rest assured that your receivables are protected from the impact of insolvency proceedings.
Protracted Default Coverage: Even in cases of prolonged non-payment, Octet Buyer Protection has you covered. If a buyer fails to fulfill their payment obligations for an extended period of time, our protection kicks in, mitigating the financial strain caused by protracted defaults.
Buyer Protection Limit Fee: A nominal fee of $100 (+ GST) for each protected buyer ensures that you have access to our robust protection.
Protected Receivables Fee: Each month, you pay a fee based on a percentage of receivables. If this fee falls below the set minimum amount, you will be charged the minimum monthly fee instead. Know exactly what you pay for, with no surprises along the way.
Apply for Octet Buyer Protection today and protect your future business success
Send Email – buyerprotection@octet.com
By Phone – Call your Supply Chain Relationship Manager on 1300 862 838.
Some details we need from you:
- Legal business name of the Buyer
- Buyer’s registered ABN or ACN
- Desired Protected Limit that is required
- Buyer’s credit or payment terms
- Expected annual turnover with the Buyer
- Outstanding invoices overdue by > 30 days
- Any other relevant information
While Buyer Protection offers extensive coverage, there are some exclusions
- Invoices under dispute are not covered
- Invoices with payment terms exceeding 90 days
- Debts incurred while a buyer is in a state of default are not covered
- Protection is not applicable for debts below $5,000
- Buyers outside Australia are excluded
- Buyers not approved for protection due to adverse information are ineligible
- Federal, state, or territory government entities are excluded
- Except for trustees, trust entities are excluded
- Transactions involving related parties are not covered by Octet Buyer Protection
Disclaimer: These comments are only our views and should not be construed as advice. You should act using your own information and judgment. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgment as at the date of publication and are subject to change without notice.
