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Draw Down
With Fides Draw Down Service you can execute Direct Debits from your customer’s accounts worldwide. For Draw Downs, your customer needs to sign a Mandate Letter, in which she/he instructs his bank to accept payment instruction processed by Fides as your agent.
You can forward the collection instructions in a format agreed between Fides and your company. With specific validations, Fides ensures that only your collections 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 better, please do not hesitate to contact us for a first discussion.