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24. How do ‘Unified net-terms’ work?

💳 Unified Net-terms' is a Ply financial product designed to give your business the flexibility of extended payment terms across any supplier(s) on Ply, even eCommerce suppliers.


Here's how it streamlines your procurement process:


Getting Approved:

  • Provide Business Info: Share your business details, including the name, location, EIN, and ownership information.
  • Bank Account Linkage: Connect your bank account securely via Plaid for underwriting. Ply respects your privacy and does not store your banking data.
  • [Optional] Bank Statements: If linking with Plaid isn't possible, you can manually provide 3-6 months of bank statements to illustrate your transaction history.

Utilizing Net-terms:

  • Flexible Terms: After approval, apply your credit limit to any supplier bid and select a NET 30/60/90 term at checkout. The chosen term will determine the cost of capital for the transaction.
  • Scheduled Repayment: Your order details will include a repayment schedule, allowing you to plan ahead according to the selected term duration.

With 'Unified Net-terms', manage cash flow efficiently by consolidating payments to multiple suppliers into one, with the convenience of delayed payment terms.

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