Payer Approval Process

A Payer Approval is the first step in the Instrument Approval Workflow and refers to the authorisation of payment for the instrument (i.e. confirmation that the invoice is valid and should be paid - and the Payer will pay the funder/seller on the agreed terms).  It is an optional step that can be added as an approval when Funder sets up the Product and the Deal. 

It is a two-step approval, consisting of a Maker and Checker review.

Depending on the agreed workflow: 

1. An Instrument is Uploaded and Submitted by a Customer

2. A notification is sent to your team responsible for review and approval

3. The Maker initiates the review, ensuring accuracy and compliance

4. The Checker then reviews the work to verify its correctness and completeness before it progresses

5. Once the review is finalized and approved internally by the Payer the instrument will either be: 

• Sent to Request finance queue for an additional review from the Customer side

• Sent to the Funder Approval queue for your evaluation. You then have the option to approve or reject the instrument based on your assessment
  

Upon approval by the Funder, once the instrument is within the funding window, the instrument will then move into the Disbursement stage and the Funder will receive the disbursement instructions.