Manage account

Advance settlements

Early Settlements (Advance Settlements) allow you to access the proceeds of your Debit Order collections before the action date, against Authorised Debit Oder batches. The Early Settlement amount will be calculated by deducting the security and unpaid retention amounts from the Debit Order batch value. 

To access the Early Settlements feature, you will be required to accept the “Purchase of Future Receivables” terms, which is an annexure to your Netcash Master Agreement. By accepting these terms, you understand that Netcash is buying the future receipts/receivables of the Debit Order batch in question. The amount due to Netcash when the batch is processed will be the same as the amount that will be credited to your Netcash account when early settlement is requested. A document fee will be levied by Netcash for this service.

The available amount is equal to the batch value minus the surety and unpaid Retentions for the batch. It Includes authorised Debit Order batches that are future dated.

Only batches that have action dates within 15 days of the current date will be available for Advance settlements. Once an advance has been granted the relevant debit batch cannot be unauthorised.

Notes:

• Advances are requested per batch.

• The request cannot not exceed the available amount and may not be less than the advance fee.

Requesting an Advance Settlement

• Navigate to Services > Account > Manage account > Advance settlements.

• Click on the Request button next to the debit batch you would like to advance.