Clearco's invoicing structure
Clearco reduces the impact of business expenses on an e-commerce business’ cash flow and ultimately provides them with increased financial stability and predictability. For every business expense, you submit and choose a preferred extension plan for, Clearco provides you with a clear and easy-to-understand estimated payment schedule that outlines the dates you will be debited.
Payments to Clearco are on a weekly capped payment cadence. Each time your payment processor (e.g., Stripe) makes a payment to your bank account, our system uses this data to generate and send you an invoice showing your payment details. Invoices are generated weekly and are sent to your account’s primary user email address.
Your Clearco agreement will have full details of how this works and the applicable terms. After an invoice has been sent out, our system auto-initiates a debit to your business’ connected bank account for the invoice amount. This debit can be same day to 2 business days to settle on Clearco’s end.
What if my business has a slow week in terms of revenue?
Clearco will only debit up to the capped weekly amount; if you have a slower week, the debit will be the capped amount or the agreed-upon specified percentage of revenue, found on your agreement. This means that there will be added weekly payments to your original estimated payment schedule. This does not increase the fee you pay for the funding you received for the invoice.
What if my business is doing really well in terms of revenue?
If your business is doing really well and the revenue share percentage exceeds the capped amount, Clearco will not take more than the capped amount as provided to you on the estimated payment schedule. This provides more predictability, for both, the amount, and when it will occur.
What if my bank account disconnects or if a payment fails?
Disconnecting your primary bank account, or failure to make a remittance may result in your Clearco funding capacity being paused, but our Payment Support team is standing by to ensure you are best supported in the rare cases it happens for reasons outside your control!
How weekly revenue is calculated?
For most payment processors we work with, we take the gross sales minus refunds and our system calculates weekly revenue by UTC time. In the event that revenue transactions are missed in an invoice they will be accounted for in the subsequent invoice. Please note a payment date may automatically be adjusted if it lands on a holiday or weekend to the nearest business day.
If you have any questions regarding payments, please feel free to contact our Payment Support team at payments@clear.co.