Overview
To ensure that payments processed through Cedar are compliant with regulatory requirements and proceed smoothly, it is important that invoices meet specific criteria. Please follow the guidelines below when submitting invoices for payment.
Invoice Requirements:
Account Holder's Name
The invoice must be issued in the name of the Cedar account holder by the supplier directly. This ensures that the transaction is linked to the correct account.
Supplier Relationship
You must provide proof of a direct relationship with the supplier. This could include a contract or agreement that verifies your business’s connection with the supplier.
Clear Description of Goods or Services
The invoice must clearly outline the items or services being paid for. Each entry should be described in sufficient detail for transparency.
Alignment with Registered Business Activity
The goods or services listed on the invoice must be relevant to and align with the business activities registered in your Cedar account. This helps maintain the consistency and legitimacy of your business operations.
Invoice Age
Invoices must not be older than 12 months from the date of issuance. Older invoices may be rejected to ensure timely and relevant payment processing.
Bank and Address Details
The bank account details and the recipient's address must be clearly stated on the invoice. This includes the bank account number and the recipient’s full address to ensure proper routing and payment.
Why These Guidelines Matter:
These guidelines are designed to ensure that all transactions processed through Cedar are transparent, legitimate, and compliant with financial regulations. By adhering to these requirements, you help maintain a secure and efficient payment system.
If you have any questions or need assistance with submitting your invoice, please reach out to our support team at support@cedar.money.