Offices

Octet Finance, Sydney
Octet House
108 Cathedral Street Woolloomooloo
NSW 2011

Octet Finance, Melbourne
Level 8, Como Office Tower
644 Chapel Street
South Yarra
VIC 3141

Tips for use

The transaction must be complete in all respects if the Octet facility is to be utilised

  • Unless specifically instructed by the buyer, Octet will not pay a seller for a deposit or part-payment, which may be required before the goods are shipped or delivered or the service completed.

The paper trail must accurately reflect all details of the transaction:

  • The Buyer’s purchase order (or Seller’s pro-forma invoice) must contain the correct details, such as seller name, buyer name, date, currency and amount.
  • The commercial invoice or tax invoice uploaded by the seller must include the same seller and buyer names as recorded in the Octet portal.
  • The date of the commercial invoice or tax invoice must be recorded in the “Document Date” field.
  • The copy of the signed Bill of Lading (or Airway Bill) uploaded must show the Octet seller as the “shipper” and the Octet buyer as the “consignee”. The date of this Bill of Lading must be recorded in the “Document Date” field.
  • If it’s a signed delivery docket, the copy of this delivery docket must show the Octet seller as the “sender” and the Octet buyer as the “receiver”. The date of this delivery docket must be recorded in the “Document Date” field.

There must always be a Proof of Delivery document when goods are purchased such as:

  • Bill of Lading - For International Transactions only
  • Airway Bill - For International Transactions only

Certain time restrictions must be adhered to.

  • The Buyer’s purchase order (or Seller’s pro-forma invoice) must be uploaded into the Octet portal within 14 days from its date.
  • Claims for payment will not be accepted if the date of the Invoice/Bill of Lading/ Airway Bill or Delivery Docket is more than 35 days earlier.
  • From the time the seller claims payment, the buyer has the remainder of that day plus an additional two full working days to either approve or reject the amount claimed.

For International Transactions only - Changes to selected payment method must be done in time.

  • If the order was originally entered into the portal as “Buyer Direct”, and you then decide to have Octet to finance the transaction, you must ensure that it is first converted to “Octet Direct” before the seller makes a claim for payment.
  • Always ensure you have sufficient availability under the facility limit to enable this conversion process.


The order can be altered if you have made a mistake or if the agreed details change after the purchase order has been issued.

  • If the details of a transaction change after the order has been placed in the Octet portal, either the seller or the buyer can request in the portal that the order be renegotiated.
  • This can be done at any time until the buyer approves a claimed amount.
  • If you receive a request to renegotiate an order, and you accept that request, the buyer can then amend any of the information originally entered into that order, and the Octet process begins again.

Payment will always be made by Octet into the bank account of the seller

  • This will be verified by Octet when the seller is accepted into the Octet Portal
  • If the seller’s bank accounts changes, the new details must be notified to Octet so that the verification process can be completed again.

 
Remember

 

There are excellent videos to guide you through each process on the portal.
 

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