Frequently Asked Questions

If you have any other question or inquiery, please do not hesitate to contact us directly.

General Topics and Processing

Yes. All invoices that are to be financed have to be approved and uploaded by the Buyer on the CRX platform. CRX offers an ERP Add-on which fully automates the invoice upload, processing, and status communication of invoices with a Buyer’s own ERP system.
No. The P2P process of the Buyer will not be affected at all.
CRX supports all tradable currencies.
Yes. All solutions can be used stand alone or in parallel. Changes to or adding of CRX solutions to existing setups have no further technical impact and require no further implementation efforts.
Yes, switching is possible at any time. Besides switching between solutions, the modules can also be used in parallel. Switching between or running the modules in parallel has no impact on technical issues and does not require further implementation.
Yes, the Buyer has total control over participating parties in their SCF program. The Buyer can define his program in such a way that Banks and Investors will not be able to act as financing parties, unless formally invited and activated by the Buyer.
No. Many Investors do not require an external rating. Instead, the Buyer may provide certified balance sheets for the past 3 years plus a business outlook.
The web-based CRX platform can be accessed via any standard internet browser. For higher transaction volumes it is highly recommended to use the CRX ERP Add-on, which fully automates all relevant processes for the Buyer.

Technical Integration

There is no need for development work on the Buyer side. The Buyer’s IT department only needs to install the transport file of the ERP Add-on and and perform the setup of http-connections. The client’s SAP-FI back-office staff will perform the parameterization of the CRX Add-on. All objects of the CRX-Add-Ons will be encapsulated in an individual ERP namespace. There is therefore no impact on existing functionality and the integration of the CRX-Add-on is independent from the Buyer’s ERP release plans.
CRX provides an ERP Add-on that is responsible for the sending and receiving of invoice information and status to and from the CRX application . The CRX-Add-On sends XML-Data to and from the CRX-portal via ERP-ICM. Master and transaction data will be stored in separated namespace. Communication with the ERP-FI-Module takes place exclusively via BAPIs (certified ERP-function module for data exchange).

Costs and Legal Topics

For almost all corporates a standard implementation of the ERP Add-on is possible. If so, only license fees for the Add-on have to be borne by the Buyer. If the Buyer mandates external consultancies like Auditors or Lawyers, additional costs can occur.
Key agreement for the Buyer is an Invoice Processing Services Agreement (“IPSA“). The Buyer appoints CRX as a Servicer to process the approved invoices uploaded by the Buyer to the CRX Portal, update entries in the Buyer’s ERP system to generate payments to the new creditors, deliver notices to the Buyer and verify payments made by the Buyer. The Portal Access Agreement (PAA) governs the access and lays out terms and conditions of the use by the Buyer of the CRX Portal and the ERP Add-on. It covers the entitlements of the users, main functionalities and technical concept for the Buyer.
Yes. This is easily possible, as long these purchasing companies have a guarantee from their parent companies. If no guarantee or similar assurance is granted, the purchasing companies can issue individual note programs. Alternatively, it is made clear in the note’s terms and conditions that no guarantee is being offered. In the latter case, indicators for a potential pricing should be gathered from soundings with Investors.

General Topics and Processing

There are two ways for a Supplier to participate in a CRX SCF program. Firstly, a Supplier ca be invited by a Buyer to participate in his SCF program. In this case the Supplier will generally receive an invitation from a Buyer directly with all relevant information necessary for participation. Secondly, a Supplier can request to participate with the CRX SCF program if one of their Buyers currently has a CRX SCF program in place. After we receive contact from a Supplier, CRX will validate the request with the Buyer and inform the Supplier regarding relevant SCF programs immediately.
Invited Supplier can easily access the CRX platform by using any standard internet browser. For higher transaction volumes it is highly recommended to use the CRX ERP Add-on which fully automates all relevant processes for the Supplier. If a Supplier has not yet been invited by a Buyer to participate, please contact us at: sales@crxmarkets.com or register yourself on the CRX SCF Registration portal.
No. The invoice management process of the Supplier will not be affected at all. The Supplier will continue to issue invoices to its Buyer as he has done before participating on the portal.
The Buyer is required to upload the invoices on to the CRX platform.
After the upload and approval of the invoices by the Buyer, the Supplier has two options to request for financing.
  • First option is the manual release of invoices for financing
  • Second option is the automatic release of invoices for financing under individually set parameters
A Supplier on the CRX platform is always in control of its invoices, no matter which invoice release option it chooses. But whereas the second option allows the Supplier to automatize the process by defining strict rules, he is required to login and release invoices manually on the CRX platform in case he opts for the first option.
No. A Supplier always has the flexibility to individually decide whether or not it wants to request for financing. Ultimately, the Supplier is always in control of its invoices.
The impact on the Supplier’s accounting department will be positive. Firstly, projected cash flows will be date certain. Second, the collections area will experience a reduction in late debtor payments. Third, Suppliers using the SAP Add-On will benefit from the automatized process that matches early payments to invoices and from automatic postings that reflect the sale of receivables.

Technical Integration

The CRX-portal can be accessed via an internet browser. There is no need for additional software.For higher transaction volumes it is highly recommended to use the CRX ERP Add-on which fully automates all relevant processes for the Supplier.
Immediately after execution of the documentation and – if required – KYC Process, the CRX Portal can be used.
Suppliers with a lot of invoices who want to automatize reconciliation of their accounts receivable and the cash payments deriving from early payments can use an ERP Add-On that can be integrated with almost no effort on the part of your IT-Department. In case no ERP Add-on is required, no technical integration is required, and the Supplier only needs to have a functioning Internet browser.

Costs and Legal Topics

The access and usage of the CRX Programs and CRX Portal is free. Suppliers only have to bear transactional-related financing costs (in case a Supplier request early payment of an invoice).
The calculation for the financing costs is as follows:
{ Discount Fee = Outstanding Invoice Amount * (Reference Rate + Expected Annual Financing Rate) * (Days to Maturity/360)
Please note: GBP invoices will be calculated act/365.
In general, a SCF program is always structured in the way that allows for enough liquidity for all requested invoices for financing to be provided.
Suppliers will execute a Receivable Purchase Agreement (RPA) that sets the framework and establishes the process for the sale and assignment of the receivables by the supplier to a participating Bank or Investors irrespective of the number of Banks and Investors buying receivables under the program. Furthermore, Suppliers will execute a Portal Access Agreement (PAA). The PAA governs the access and lays out terms and conditions regarding the Supplier’s usage of the CRX Portal. It covers the entitlements of the users, main functionalities and technical concept for the Supplier. For the Dynamic Discounting Solution only the PAA has to be executed.

General Topics and Processing

In order to participate in an auction, the respective Banks and Investors have to execute the respective documentations and have to be approved by the Buyer to purchase receivables or notes. Only registered investors previously accredited by CRX can join program specific auctions.
Banks and Investors will be informed latest one business day (TARGET2 calendar) prior to the next auction with all relevant details via e-mail. Furthermore, upcoming auctions will also be reported and displayed on the CRX Portal.
If a Bank or Investor successfully placed an order, clearing and settlement of the notes will follow the well-established standard securities processing procedures.
The issued notes will not be rated separately. The risk of a note is based on the short-term creditworthiness of the Buyer entity.
In the unlikely case that a Buyer becomes bankrupt before a short-term note matures, a CRX Markets approved servicer would be appointed and, acting on behalf of the SPV, be responsible for reclaiming the lost account receivables from the insolvency administration. As an alternative, Banks and Investors have the opportunity to exchange their claim out of the note to a direct claim against the Buyer.

Technical Integration

The CRX Portal is available via a web-browser. After execution of the respective documents, Banks and Investors can participate in all individually approved programs and purchase receivables or notes. No further technical integration is required.
This depends on the Bank or Investor’s own product approval process. CRX can support the NPP with documentation if required.

Legal Topics

  • Multi-Bank Solution
    The Multi-Bank program documentation is structured to avoid execution of multiple agreements between suppliers and banks. In essence, a bank only executes one core agreement irrespective of the number of suppliers selling receivables under the program. In a Multi-Bank program the PAA not only governs the access and lays out terms and conditions of the use by the Bank of the CRX Portal but also embeds the Terms of Receivables Purchase (“ToRP”) that set the framework and establish the process for the sale and transfer of the receivables by a supplier to the bank and carry customary reps, warranties and undertakings of a supplier. Furthermore, a Transaction Service Agreement (“TSA”) will be executed. The TSA describes and sets the terms for the services provided by CRX to the bank encompassing the entire process of the purchase of receivables, associated payments, information and reporting.
  • Multi-Investor Solution
    To get access to the Multi-Investor solution, Banks and Investors have to execute an Investor Portal Access Agreement (“IPSA”), which settles the access to the CRX Portal as well as the purchase of the issued notes. Alongside the Investor’s PAA is an additional Rule Book, which explains the complete auction process and associated rules. Finally, all participating Banks and Investors will receive a Private Placement Memorandum (“PPM”), which summarizes the program structure, all involved parties as well as potential risks of the note.

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