Payment under the contract will be received in 30 days - does it make sense to take factoring?

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Legal relations related to the supply agreement are regulated in §3 of Chapter 30 of the Civil Code of the Russian Federation.

Features of document preparation

1. Completed sample contract
2. Subject of the agreement
3. Cost of the supply contract
4. Delivery conditions
5. Responsibility of the parties

Subject of the agreement

In accordance with the supply agreement, one party - the supplier - undertakes to supply certain goods to the customer, and the customer agrees to pay the agreed amount for them. In accordance with Art. 506 of the Civil Code of the Russian Federation, the supplier can only be an entity engaged in business activities, and the goods supplied can be used for business purposes or for purposes that are not related to personal, family or similar use.

The text of the contract must indicate the goods to be supplied.

Important! The supplier must deliver the goods together with their documentation and accessories.

The quantity and range of goods may be stipulated in the text of the contract. But if the delivery of goods will be carried out in several batches, then in this case it is better to provide for the quantity and range of the order in additional agreements, which will be considered an integral part of the supply agreement.

Cost of the supply contract

The text of the supply agreement must indicate the cost of the goods. If, under the terms of the contract, delivery will be carried out in stages, then in this case the cost of each batch must be indicated in an additional agreement, which will be considered an integral part of the contract.

If the terms of the contract provide for a deferred payment, then the text must clearly indicate the procedure for making payments.

Important! The text of the contract must indicate the timing of payments from the moment of delivery of the goods.

Payment is made based on the invoice presented by the supplier.

The parties must also determine the form of payment. In this case, it is necessary to take into account the requirements of the law. In particular, in accordance with Art. 861 of the Civil Code of the Russian Federation, payments between legal entities must be made in non-cash form. Payments can be made in cash, unless otherwise provided by law. In this case, the maximum amount of cash payments is 100,000 rubles. This legal provision must be taken into account when signing the contract. Accordingly, it is advisable to provide a non-cash form of payment and indicate the bank details necessary to make the payment.

Delivery conditions

The text of the contract must indicate the delivery procedure and timing. If the text of the agreement does not provide for anything, then the rules of Art. 509 of the Civil Code of the Russian Federation, in accordance with which delivery must be carried out monthly in equal batches.

Important! the text of the contract can provide for a delivery schedule.

Art. 510 of the Civil Code of the Russian Federation states that delivery is carried out by the supplier using the transport provided for in the contract.

Important! in the text of the contract it is necessary to indicate the type of transport on which the delivery will be made. If the contract does not provide for the transport that will be used for delivery, then the type and terms of delivery are determined by the supplier.

The text of the contract must also indicate:

• assortment and packaging;
• packaging;
• procedure for replenishment in case of short delivery of goods;
• procedure for accepting goods.

Responsibility of the parties

The text of the agreement must resolve issues related to the responsibility of the parties. In practice, a fine is generally provided as a measure of liability. In this case, it is necessary to indicate the measures of responsibility of the parties for:

• refusal to accept the goods;
• late payment;
• late delivery.

These are the main conditions that need to be agreed upon when concluding a supply agreement with a deferred payment clause.

How to calculate how much a deferred payment to a supplier will cost a client

It must be remembered that every time a supplier defers payment, he incurs financial losses. Most organizational leaders calculate the cost of deferment as follows:

To calculate your savings, you will need this formula:

OP = (KDO / 365) x (BP / 100%) x SK,

Values: OP – deferment amount, rub.;

KDO – number of days of deferment;

BP – bank percentage on borrowed funds, %;

SC – contract amount, rub.

The calculation using the above formula shows quite accurately how much money you will save if you take advantage of deferred payment from the supplier. The essence of it is that you calculate what funds you would spend to take out a bank loan and pay directly upon delivery.

In addition, this formula will show how much money your organization spends by giving respite to its customers. To obtain this indicator, add 20% to the resulting number, which takes into account the risks of complete non-repayment of funds and expenses to collect overdue debt.

To estimate the cost of credit funds, take into account both the annual interest and all sorts of one-time bank payments for opening a line of credit: all kinds of commissions, registration and insurance of collateral and other expenses that arise when applying for and servicing a loan.

There are entrepreneurs who, with this formula for calculating the deferment for a supplier, consider not the bank’s percentage, but the profitability of alternative financial investments (for example, in shares, in another business), or a certain percentage that is tied to the profitability of the business.

This formula will be useful to you if you want to purchase products with prepayment, and also with long delivery. Here it turns out that you are essentially lending money to the supplier. Prepayment is calculated in the same way, only replace the number of days of deferred payment to the supplier with the number of days from payment until the goods arrive to you.

There is such a practice: in a company, the client pays a price, and a percentage is added to it, depending on how many days the payment to the supplier will be deferred. For example, a product costs 200 rubles, if postponed for a week – 202 rubles, and for a month – 210 rubles. Here, first of all, prices that are offered with a deferment must be improved as much as possible, and it is also necessary to calculate the benefits of this proposal.

You can evaluate the profitability of the cost of a product with a deferment in comparison with the cost without it using the following inequality:

NZO / (100% - NZO) x (365 / KDO) x 100% ≤ BP,

where NPO is the premium for deferment, % (how much discount is lost if the transaction takes place using a deferred payment to the supplier);

KDO – number of days of deferment;

BP – bank interest on a loan, %.

When the inequality is satisfied, then using the supplier’s funds is more profitable than a loan, and deferring payment to the supplier will be profitable. In the same case, if the inequality is incorrect, that is, the number on the left side is greater than on the right, then it is not profitable to defer.

Let's say you purchase canisters and pay for them upon delivery. The cost of one canister is 200 rubles. As a result of negotiations on improving delivery conditions, you came to the conclusion that, taking into account the 21-day delay you are interested in, the price of a canister for you will be 206 rubles. The financial director announced that your company can now borrow funds at 22% per annum. So, your premium for deferred payment to the supplier will be (206 ‒ 200) = 6 rubles, which is 3%. Now you need to evaluate the profitability of deferment under these conditions:

3 / (100 — 3) × (365 / 21) × 100% = 53,75 ? 22

53,75% > 22%

The number on the left is significantly larger than the one on the right. Inequality showed that under the given working conditions, it is simply unprofitable to defer. It is necessary to either negotiate again, or make a strategically important decision: you agree to work with payment upon delivery, or you prefer deferred payment to the supplier, which will be much more expensive than credit money. In this example with canisters, it will be beneficial for the entrepreneur to negotiate a deferment of 21 days with a price increase of a maximum of 1.25%.

Read the material on the topic: How to save on payroll taxes so that everyone is happy

Most foreign manufacturing companies do not agree to deferment terms with Russian suppliers. They strive to get the lowest price and convenient conditions instead. At the same time, the European currency is worth six to ten times less than the Russian currency at a loan rate of about 3% per annum. This is why it is unprofitable for an organization from Europe to negotiate a deferred payment with suppliers from Russia; this amounts to expensive lending.

When there is a need to compare two suppliers with an identical product, but with different prices and a deferred payment to the supplier (when other conditions are equal), you can use the “conditional purchase price” - estimate the cost of the purchase taking into account the deferment using this formula:

UslZak = ZAK x (1 – (BP / 100%) x (KDO / 365)),

where UslZak – conditional purchase price with deferment, rub.;

ZAK – purchase cost, rub.;

BP – percentage of borrowed funds from the bank;

KDO – number of days of deferment.

For example, supplier 1 provides a product worth 200 rubles. without deferred payment. Supplier 2 can offer a price of 205 rubles. and a 30-day grace period. Let's say that your organization can borrow funds at 22% per annum. Which of the two offers is more profitable? We calculate the conditional purchase price in these two cases:

Fast. 1: UslZak = 200 × (1 – (22 / 100) × (0 / 365)) = 200 rub.

Fast. 2: UslZak = 205 × (1 – (22 / 100) × (30 / 365)) = 201.3 rub.

So, in the first case there is no deferred payment to the supplier, but this particular offer is more profitable than that of the second supplier. This formula makes it possible to calculate that the offer of the second supplier is more profitable than the offer of the first if the delay is more than 41 days.

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Features of a purchase and sale agreement with installment payment

The main advantages of this type of agreement:

• First of all, this is, of course, interest-free payment;
• Payment without commissions, this also applies to additional payments;
• In addition to all that has been said, one cannot help but appreciate the fact that you will not need to insure life and collect a lot of documents.

But such a transaction has not only advantages, but also disadvantages, for example, not everyone is ready to sell property in installments, since there are always some risks. In practice, it often happens that persons making a purchase do not properly assess their financial capabilities.

Of course, first of all, this applies to expensive purchases, such as a car or an apartment.

What does a contract for the purchase and sale of a house without land look like?

For a standard example of an installment purchase agreement between individuals, see here.

To protect themselves, sellers always stipulate certain conditions in the contract. They will confirm the fact that the buyer will not be able to become the full owner of this or that property until the transaction is completed. In addition, he will also face various penalties.

What this all boils down to is that before signing the agreement, you will need to carefully read its clauses. Often parties to a transaction fail to do this and end up with unpleasant consequences, so be aware of this.

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Procedure and methods of making payments under a purchase and sale agreement with installment payment

If you plan to purchase an apartment in installments, then the contract must indicate the procedure for depositing funds to the seller. In practice, the buyer deposits money at the very beginning of the transaction; we are not talking about the full amount.

As for the remaining amount, the seller breaks it down into a given period of time. For example, if we are talking about a short-term form of installment payment, then the buyer will have to pay the agreed amount within six months.

Of course, with long-term forms of installment plans, payments are usually spread out over a longer period.

Please note that you can make payments in various ways, for example:

• transfer funds to the seller’s card. If this option does not suit the parties to the transaction, then you can transfer them personally;
• you can transfer money to a current account;
• bank deposit box.

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Examples of wording in contracts

Example of a deferred delivery clause:

“In the event of failure to receive funds to pay for the goods specified in Specification No. 1 to the Agreement to the Supplier’s bank account within the period specified in clause 2.1 of the Agreement, the delivery of goods is not carried out until full payment for the goods by the Buyer. After receipt of funds in full to the Supplier’s bank account, the goods must be delivered to the Buyer within 10 calendar days from the date of such receipt.”

Example of a condition on deferment of delivery of goods:

“The buyer is obliged to pay for the goods within 10 days from the date of receipt of the goods.”

The proposed wording can be either modified depending on the conditions of a particular transaction, or used unchanged if they correspond to the situation. From the site nsovetnik.ru

Today, many companies operate in this way, when products are sold with deferred payment. The supplier provides credit to the buyer for a period of up to several months, the exact time depends on the saleability of the product. The client undertakes to pay for the purchased products within this period.

Why is this beneficial to the buyer:

• Exclusion of receiving defective products.
• This will not require withdrawing a large amount of money from circulation.
• Repayment of debt at a time convenient for the client.

Why is deferment of payment also of interest to the supplier? He receives the following marketing benefits:

• Increased income. This results in an increase in the volume of products sold if cash debt is managed correctly.
• Expansion of sales markets. Opportunity to attract new consumers.
• Increasing the company's reputation when working with a popular contractor.
• Building relationships with clients that are beneficial to both parties. Long-term cooperation with official intermediaries, regular customers and other important partners.

What risks does the supplier face when deferring payment:

• profitability will fall, and the company will also face financial instability;
• mobility will decrease;
• the turnover of funds will decrease, cash gaps are possible;
• the problem of property debt will arise.

According to the law, a deferred payment to a supplier under a supply agreement can only be issued for goods in the form of alcohol and food. In all other cases, fulfillment of this condition requires mutual agreement of the parties.

The supplier is interested in prepayment, because in this case he finds himself in more favorable conditions. This situation is unprofitable for the buyer; he prefers to purchase goods with deferred payment. This is especially important for those companies that are currently in short supply.

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Essential conditions for execution of a supply agreement

Based on Article 432 of the Civil Code of the Russian Federation, the main conditions for drawing up a supply contract are the rules of the document, without whose approval it cannot be concluded. The condition on the subject of the transaction is considered uniform for all types of agreements. In addition, a supply agreement cannot be drawn up without agreeing on the requirements put forward by one of the parties.

The main terms of the agreement include:

• object of the contract. The document indicates the name of the product and its quantity in units of measurement corresponding to the nature of the product, or in monetary equivalent;
• delivery period. The agreement specifies the date and time of delivery of the goods.

Important! The supplier of goods can only be an organization or individual entrepreneur, on the basis of Article 506 of the Civil Code of the Russian Federation. Otherwise, the document will not have legal force.