Overview
Yes, all transactions processed through Cedar must be backed by an invoice. This requirement is essential to ensure transparency, track the purpose of each transaction, and comply with international financial regulations.
Why Is an Invoice Required?
Transparency: The invoice ensures that the goods or services being paid for are clearly outlined, creating a transparent record of the transaction.
Regulatory Compliance: Having an invoice helps us meet anti-money laundering (AML), Know Your Customer (KYC), and other financial regulations, ensuring that Cedar operates within legal guidelines.
Transaction Verification: An invoice serves as a formal document confirming the legitimacy of the transaction, verifying that the payment is for valid business activities.
What Should an Invoice Include?
The invoice should meet specific criteria, such as clearly detailing the items or services provided, including bank and address information, and aligning with your registered business activity. For more detailed guidelines, refer to our Invoice Submission Guidelines article.