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Once a Purchase delivery has been executed the floating goods are automatically added to the financing as a collateral. The goods used as collateral are automatically traced through the logistics process. Each time the goods are moved on through the logistics delivery process by marking a step as executed, a collateral for the previous stage of the goods is closed and a new collateral is created instead.
| 1. | When purchased goods are first delivered to a warehouse, then the collateral for the floating lot is marked as closed by setting the end date and a new collateral for the inventory lot is added to the Financing to replace it. |
| 2. | The logistics execution details are used on the collaterals: |
| a. | BL numbers or Warrant numbers are used as a reference for the collateral |
| b. | BL dates and delivery/warrant dates are used as the start date of the new collateral and the end date of the old collateral |
| 3. | Any deliveries from financed goods in a warehouse will also be added as collaterals to the Financing. |
| 4. | Once a part of the goods is sold and delivered to a buyer, the corresponding collateral for the floating lot will be closed and a new collateral for the sold goods is created, which will include the invoice details (invoice number, amount, payment status). |
| a. | In the initial release, this sold collateral is the only collateral that can be closed by you, to indicate that for this portion the financing was completed (e.g. the invoice paid and the credit line reimbursed). |
| 5. | You can see the results on the Financing as a list of consecutive collaterals. For each collateral, the location is indicated through: |
| a. | Floating – the delivery number, the vessel, its destination city |
| b. | Inventory - the warrant number, the name of the warehouse, its city |
| c. | Sales - the name of the buyer, the city (where the goods were delivered, not where the buyer is located) |
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