Fides Draw Down Service enables you to execute direct debits from your client's accounts all over the world. Your customer just needs to sign a mandate letter in which she/he instructs his bank to accept payment instructions processed by Fides as your agent.
Once this is established, you can forward collection instructions in a format agreed between Fides and your company. With specific validations, Fides ensures that only the payments claimed by you will be drawn from the customer's account.
Draw Down Agreements are ideal for recurring business-to-business transactions within long-term supply chain relationships. Draw Downs are collections without classical refund right as known from local business-to-consumer or SEPA Direct Debits.
If you want to discuss how Draw Down can help to manage your debtor management, do not hesitate to contact us.