In the “My advances” section, you can view all information related to your requested, in progress, and completed advances. By clicking on each advance, you will find detailed information, including the advance details, the corresponding invoice, and the applied payments.

Advances under review

Each advance request is reviewed by our team to ensure that all requirements are met for approval and disbursement.

Advances requiring your attention

If any documents or information need to be updated or uploaded, the request will be marked as “Requires your attention” until the required correction is completed.

Active and settled advances

Once everything is verified, we approve the request and credit the advance to your bank account. Please note that depending on the bank, the transfer may take between 24 and 48 business hours.

Advances are considered settled based on the financing model: For non-recourse factoring, the advance is settled once your client makes the corresponding invoice payment. For recourse factoring, the settlement is completed through a direct payment made by you.

Overdue advances

If the corresponding invoice payment is not received by the due date, the advance will be marked as “Overdue” in the platform. For advances under the recourse factoring model, the applicable late interest rate will be charged until payment is received. In the case of non-recourse factoring, no late interest will be applied; however, the financing cost will continue to accrue at the ordinary rate until the invoice payment is recorded.

Notifications

You will receive email notifications from Mundi whenever you need to review a request or when your advances have been approved. We recommend regularly checking this section to avoid delays in processing your requests.