Introduction to net terms (trading credit limit) on xChange

Table of Contents

1. What are net terms?
2. How do net terms benefit my business?
3. Will my credit score be affected?
4. Are net terms the same as a loan?
5. What’s required to enroll for net terms on xChange?
6. What happens after I enroll?
7. Is there a cost if I enroll but don’t use net terms?
8. How can I increase my credit limit on net terms?
9. What if I use net terms as a payment method, but my deal gets canceled?
10. What fees are associated with net terms?
11. How do I make my payments to Resolve after using net terms (trading credit)?
12. I need information (W-9, ACH details) to add Resolve as a vendor in my accounting system.

1. What are net terms?

Net terms on xChange are a payment option that lets you buy containers now and pay up to 30 days later. Provided by our partner Resolve, net terms include a 2.5% service fee per transaction.

In xChange Wallet, net terms are shown as ‘Trading Credit Limit’ and are currently available to a select group of pre-approved US customers. Approved users need to enroll to access this option at checkout.

2. How do net terms benefit my business?

Net terms provide cash flow flexibility, allowing you to secure containers right away and defer payment for 30 days. This lets you fulfill customer orders without tying up cash, helping you grow your business without financial strain.

Examples of when net terms can benefit you:

• Unexpected maintenance needs: Purchase a replacement container immediately if another requires sudden repairs.
• Meeting urgent client orders: Fulfil last-minute orders without cash flow concerns.
• Offering payment flexibility to clients: Allow clients who pay post-delivery, while keeping your own cash flow intact.
• Expanding into new markets: Acquire additional inventory for new regions without significant upfront costs.

3. Will my credit score be affected?

No, enrolling with Resolve for net terms does not involve a hard credit check, so it won’t impact your credit score.

4. Are net terms the same as a loan?

No, net terms aren’t a loan. Unlike loans, net terms don’t have interest rates—only a 2.5% service fee per transaction (additional fees apply for credit card payments at 3.5% or check payments at $5). There’s no hard credit check, and once approved and enrolled, you have a credit limit ready for use.

5. What’s required to enroll for net terms on xChange?

Enrollment is simple. If you see an invitation to enroll in Resolve’s net terms in your xChange Wallet, you’re already pre-approved. Just complete the steps to start using net terms for added cash flow flexibility. View enrollment steps here.

6. What happens after I enroll?

Once enrolled, 'Trading Credit Limit' will appear as a payment option at checkout on xChange. If you select it, the invoice will be marked as paid on xChange, and you’ll receive a Resolve invoice—due in 30 days—by email and in your Resolve account.

7. Is there a cost if I enroll but don’t use net terms?

No, there’s no cost if you don’t use net terms, and there are no termination fees. Enrolling is risk-free.

8. How can I increase my credit limit on net terms?

You may qualify for credit limit increases over time by making timely payments on net terms transactions. This helps you take on more orders and continue growing your business.

On the other hand, frequent cancellations or late payments may result in a reduced credit limit with Resolve.

9. What if I use net terms as a payment method, but my deal gets canceled?

If a deal is canceled, both xChange’s and Resolve’s cancellation policies apply. The specific steps depend on who is responsible for the cancellation and whether you've already paid. Learn more about it here.

10. What fees are associated with net terms?

The most cost-effective way to pay your Resolve invoice is within 30 days using ACH, bank transfer, or wire transfer. This way, you'll only pay the Resolve Net Terms Fee of 2.5% (unless other fees are imposed by your payment provider).

If you choose to pay after 30 days or with a different payment method, additional fees may apply. Here’s a full breakdown to help you plan your payments and avoid unexpected costs. Learn more in this article here.

11. How do I make my payments to Resolve after using net terms (trading credit)?

Before each payment is due, Resolve sends you and your accounts payable team an email reminder with the amount due and the due date. You also have the option to sign up for autopay to ensure you never miss a payment.

Resolve currently accepts payments via bank transfer, ACH, wire transfer, credit/debit card (with a 3.5% fee), or check (with a $5 fee per check).

12. I need information (W-9, ACH details) to add Resolve as a vendor in my accounting system.

Please contact help@resolvepay.com for any necessary information to add Resolve to your accounting system.