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Frequently Asked Questions on Working Capital Notes™
1. What is a Working Capital Note™ (WCN)?
2. What makes a WCN different from a traditional invoice or purchase order?
3. Is the WCN legally enforceable like a paper promissory note or bill of exchange?
4. What law governs the WCN and where would disputes be resolved?
5. Once I have a WCN will I only be able to deal with it digitally? Since our courts are not yet digital, can I print it out?
6. Who can see my WCN and its details?
7. How are signatures applied and are they legally valid?
8. Is it possible to add a bank guarantee to a WCN?
9. Can I transfer the WCN to an investor who is not on the platform?
10. What happens at maturity?
11. How does the system work when integrated with a partner platform, such as Faturalab?
12. Do I need a separate login for Flownote™?
13. Is my data safe and how is it used?
14. What happens if there is a technical problem or outage?
15. Can the WCNs be used for deep-tier or multi-tier supply chain finance?
16. How do I know the system is reliable enough for my bank or investor?
17. In a typical supplier finance programme, where do you see the greatest value in replacing or complementing traditional invoice assignment with a transferable digital negotiable instrument such as a WCN?
18. For multi-tier supply chain finance (reaching tier 2 or tier 3 suppliers), how important is the ability to issue a negotiable WCN that can be indorsed multiple times without recourse?
19. What are the biggest friction points or pain points you currently experience in SCF programmes that a digital negotiable instrument could help solve?
20. Under IFRS reporting , how do your clients typically account for the issuance of a WCN? As a derecognition of the underlying receivable (true sale) or as secured financing that remains on-balance sheet?
21. For the seller, what accounting challenges arise when moving from traditional invoice discounting to a negotiable instrument such as a WCN?
22. For the investor/funder (bank or fund), how are WCNs usually classified on their books?
23. Are there any specific disclosure requirements or concerns from auditors that clients frequently raise when using digital negotiable instruments in SCF programmes?
24. How do rating agencies or credit insurers typically view a portfolio of WCNs compared with traditional invoice portfolios?
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Frequently Asked Questions - ETR Digital
