Deferred payment, increase in deferred payment!?! The procedure for granting a deferred payment to customers A deferred payment is called differently.

How to avoid doubtful and bad debts

There are several ways to prevent or minimize bad debts.

Prepayment

If there is a risk of problems with the buyer, it is better to conclude an agreement with him on an advance payment basis. Moreover, the prepayment in this case must be 100%. Then you, as a supplier, will not have problems with debts.

Security in the form of a pledge, surety, bank guarantee

Counter debt (accounts payable)

When there is a counter-debt, it is possible to ship products relatively calmly without prepayment, without security and other safety nets. If there are accounts payable and accounts receivable arise, there is always the opportunity to cover them by offsetting.

Letter of credit

This is a rather exotic option, although undeservedly forgotten. A letter of credit is one of the forms of non-cash payments, the meaning of which is as follows: when both parties to the contract (for example, deliveries) do not trust each other (that is, the supplier does not trust the buyer, because he is afraid that he will not pay, and the buyer is afraid to make an advance payment, because I’m not sure that the supplier will make the shipment to him), the problem can be solved by a third independent party represented by the bank (issuing bank).

In this case, the bank opens a letter of credit: part Money the buyer's current account is transferred to a special account in this bank, and the buyer no longer has the right to dispose of this money for a certain period of time. The bank then informs the supplier that the money is "reserved" for him in a separate account and this money will be transferred to him as soon as he submits documents confirming the shipment.

Unfortunately, this service is not very popular. Probably because it's not cheap. But from a financial and civil point of view, this is a good option for preventing debt accumulation.

Methods of internal control of receivables

It must be said right away that there are no universal methods for controlling receivables. Everything is very specific, and much depends on the activities of the enterprise, its scale, the amounts that pass, customers, the market in which the enterprise operates. There are too many factors to consider. However, several important factors can be taken into account.

Planned level of accounts receivable

The maximum allowable amount of receivables is determined by calculation. It is expressed in absolute terms and/or as a percentage of revenue.

We are talking about the amount of debt that the company can afford without serious damage to financial and economic activities. This size is best set in a fixed amount, that is, in rubles. Additionally, you can set it as a percentage of revenue.

Conditions for granting a deferred payment (loan) to customers

A company may have a specific deadline - 15 or 30 days, for example. But one term cannot be universal for everyone she works with.

If we are talking about a key or regular client, then for him the period may be longer. After all, he, as a rule, makes large orders and regularly fulfills his obligations.

If a new client appears, in which the company is not yet sure, then it makes sense to revise the term downward. A problematic client needs to set either a minimum period, or even insist on an advance payment.

Employee motivation

It is desirable to develop a system in which the salary of an employee will depend on the age of the receivables.

Procedure for granting deferred payment to customers

The information collected about him plays an important role in making a decision on granting a loan to a client.

You can start by analyzing information from open sources and the information that is requested from buyers. How long have they been on the market? Which of their counterparties can be contacted for feedback? How accurate are they? A lot of valuable information for analysis can be extracted from the company's website.

It is best to personally visit the buyer's office. This will allow you to form an idea of how risky it will be to work with him.

This article is an excerpt from the book "". It will help you answer three questions:

If you are a seller, how much actual money do you give to the client when you give him a payment deferral. If the buyer - how much real money the supplier spends on you.
What is more profitable - to work with a supplier on a deferred or prepaid basis?
How to determine a better offer among suppliers by comparing their different prices and different payment terms.

Deferred payment - the most popular. An agreement with the supplier to pay, for example, 14 days after delivery, in some industries is a sine qua non even for the first transaction.

The delay must be spelled out in the contract, because. if this is not done, then in accordance with the law, the obligation of payment for the goods by the buyer by default occurs immediately after receipt of the goods.

Do not forget that any delay in payment is a real financial cost to the supplier. In my practice, I made an estimate of the cost of deferment when I confirmed it to the client, as 2% of the delivery amount for one month of deferral of payment. A similar approach was used by many familiar leaders.

To calculate the savings that the buyer will receive by agreeing with the supplier on a deferred payment, you can use the following formula:

OD = (EDV / 365) × (BP / 100%) × SC

where OP is the cost of deferred payment, rub.;

SC - the amount of the contract, agreement, transaction, rub.

This formula is accurate enough to give you an idea of how much money you save by taking advantage of a supplier's payment deferral. The logic of this formula is that you estimate how much money you would need to spend to attract a bank loan in order to pay the supplier upon delivery.

You can also think of this formula as a way to estimate how much money your company is spending by providing payment deferrals to its customers. In this case, entrepreneurs add about 20% more to the received number, taking into account the risk of non-repayment of money and the costs of obtaining overdue debts.

Consider an example of how to evaluate the economic effect of a delay for the buyer.

Let's say you buy canisters from a supplier on a pay-as-you-go basis. In the course of lengthy and difficult negotiations, you managed to get a 21-day payment deferral from the supplier. The amount of your order will be 1,000,000 rubles. The financial director told you that at the moment your company can attract borrowed money from the bank at 22% per annum. Let's estimate the cost of deferred payment in this case:

OP \u003d 21/365 × 22/100 × 1,000,000 \u003d 12,658 rubles.

We can assume that 12,658 rubles. you saved the company because if the deferred payment had not been obtained, the company would have had to pay the supplier 21 days early, which would have required borrowing from a bank. RUB 12,658 - this is the money that would have to be spent on the fact that your company used a loan of 1,000,000 rubles. within 21 days.

When assessing the cost of credit money, it is correct to take into account not only the percentage per annum, but also all kinds of one-time payments to the bank for opening a credit line; if any - various commissions to the bank; payment for registration and insurance of collateral; other costs that your company incurs in the course of processing and servicing a loan.

Some businessmen consider, when assessing the cost of a deferral, not bank interest, but the percentage of profitability of an alternative investment of funds (for example, in shares or a side business), or a fixed percentage tied to the profitability of the business.

The calculation formula I have given will also be useful if you buy goods from a supplier on a prepaid basis, moreover, with a long delivery. In this situation, we can assume that you are lending to the supplier. The prepayment cost can be calculated using the same formula, but instead of the number of days of delay, substitute the number of days from the moment of payment until the moment the goods arrive to you into the formula.

In some companies, a price is announced to the client, to which, depending on the number of days of delay, a certain percentage is added. For example, the price of a product is 200 rubles, if you want a delay for a week, the price will be 202 rubles, if for a month - 210 rubles. In this case, the first thing that should be done by the buyer is to maximize the prices offered with deferred payment, and the second is to calculate the profitability of such an offer.

An assessment of the profitability of the price of a product with a delay compared to the price of a product without a delay can be made using the inequality:

(NZO / (100% - NZO)) × (365 / BWW) × 100% ≤ BP

where NZO - surcharge for deferral (the amount of the lost discount if the transaction is with a deferred payment),%

KDO - the number of days of delay;

BP - bank percentage of borrowed funds,%.

If the inequality is met, then it is more profitable to use the supplier's money than credit money, so the delay in this case will bring additional profit to the company. If it is not satisfied and the left side of the inequality is greater than the right side, the delay is not profitable.

For example, you buy canisters from a supplier on a pay-as-you-go basis. The price for a canister is 200 rubles. In the course of negotiations on changing the terms of delivery, you settled on the fact that with a deferred payment of 21 days you are interested in, the cost of a canister will be 206 rubles. The CFO told you that at the moment your company can raise borrowed money at 22% per annum. The surcharge for the delay is (206 - 200) = 6 rubles. or 3%. Let's evaluate the benefit of working with deferred payment in this case:

(3 / (100 - 3)) × (365 / 21) × 100% ? 22

The left side is larger than the right. The inequality shows that under such conditions it is unprofitable to work with a supplier with a deferred payment. We need to sit down again at the negotiating table, or make a management decision - we agree to continue working with payment upon delivery of canisters, or we prefer a more expensive deferred payment than credit money. In the above example, it is profitable to work with a delay of 21 days if the price increases by no more than 1.25%.

Many of the foreign manufacturing companies I work with do not work with Russian suppliers on a deferred payment basis. Their task is to get the lowest possible price and a set of conditions instead of a delay. The cost of European money at an average credit rate of 3% per annum is 6-10 times cheaper than Russian money. Therefore, for a European company to work with Russian suppliers on a deferred basis is often tantamount to inefficient and expensive lending.

If it becomes necessary to compare two suppliers with the same product, but with a different price and a deferred payment (ceteris paribus), you can use the "conditional purchase price" - an assessment of the purchase cost, taking into account the deferred:

ConvZak = ZAK × (1 – (BP/100%) × (EDV / 365))

where UslZak is the conditional purchase price, taking into account the deferment provided by the supplier, rubles;

ZAK - purchase price, rub.;

BP - bank percentage of borrowed funds,%;

KDO - the number of days of delay.

For example, we have two offers from Alpha and Beta suppliers for canisters. The canisters are exactly the same and, ceteris paribus, suppliers differ only in price and delay.

Supplier Alpha offers a price for a canister of 200 rubles. and does not offer payment deferral. Supplier Beta provides a price of 205 rubles. and gives you a 30 day grace period. Suppose that your company can raise borrowed money at 22% per annum. Which offer is better?

Calculate the conditional purchase price for two suppliers:

Alpha: ConditionZak = 200 × (1 - (22/100) × (0/365)) = 200 rubles.

Beta: UslZak \u003d 205 × (1 - (22/100) × (30/365)) \u003d 201.3 rubles.

Thus, despite the fact that the Alpha supplier does not provide a deferred payment, his offer, taking into account the cost of the deferred payment, will be more profitable than that of the Beta supplier. It can be calculated that the offer of the supplier Beta becomes more profitable than Alpha, provided that the payment is deferred for more than 41 days.

Deferred payment is the most important condition of the contract with the supplier. move on to discussing the size of the delay after certain agreements on the price have already been reached, because if you start negotiations with a delay, it will be included in the price.

If the supplier himself offers a delay, the task of the buyer is to achieve the lowest possible price with the maximum delay, and then receive the price on condition of an advance payment. After that, calculate the profitability of the delay using the above formula.

If you are now on a deferred payment basis, get a lower prepaid price and evaluate the effectiveness of these two prices using the formula above. Run a few trades without a payment deferral, then try to get a deferment while maintaining the recently received “prepaid” price.

If you are a seller, remember that each day of the extension you get costs your company some money, and be sure to "sell" the extension - it's actually an additional discount your customer gets. Do not forget also that the payment delay can be not only 14, 30, 60 days, but also 11, 26, 47 days.

Impressive results!

Colleagues and not only Interested and simply bored! a question to all of you, those who have ever participated in the negotiations or at least were simply present:
1. Is deferred payment a necessity or something that all buyers are already accustomed to?
2. In your opinion, to what extent is this part of the trading conditions integral to standard/primary negotiations? or is it still necessary to approach the provision of this TU scrupulously?
3. Is it worth it to increase the deferred payment, simply because time has passed and it is necessary to "update" the specifications?

Based on my not so long experience (8 years), I am increasingly coming to the conclusion that, as a rule, deferred payment is a "standard" trading condition that is not appreciated, but taken for granted. moreover, when the question of granting one or extending the period is asked during the negotiations, there are no reasons / justifications.
What was most surprising during the period of work with the "grocery market" is that independent retailers require TP to provide a deferment, even if the minimum order amount is 1000 rubles. well, the TP without hesitation tries to sell this idea to his line manager, and so on throughout the chain ... and after a certain period of time, the management of the supplier company begins to fight for a reduction in DSO and credit days ..

I will be grateful for your competent and not very, but OPINION!
Thank you.

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The borrower, in addition to the loan, receives certain financial obligations, which cover certain period time. Often, life circumstances change, the solvency of customers worsens, which leads to the impossibility of fulfilling credit obligations. A loan deferral allows you to resolve the problem with the bank without bringing the case to court and imposing penalties. When concluding an agreement with a bank, it is recommended to clarify in advance what a deferred loan payment is and whether it is provided for under the terms of the agreement.

Thanks to the law No. 127-FZ adopted in 2014, the government settled many ambiguities regarding the issue of non-payment on the loan. The bankruptcy law covers the issues of bankruptcy of individuals, the procedure for writing off debt, the alienation of property in payment of debts. In addition, federal legislation has determined the rules for revising the terms of a loan, for restructuring and obtaining certain support from the bank and the state when paying off the debt.

In the circumstances of the deterioration of the financial situation, the borrower is not recommended to hide from the lender. It is in the interests of the client himself to notify the bank in a timely manner of a change in the situation and to work out a compromise solution for further servicing the loan.

The practice of deferred payment on a loan

The chances of getting a deferred payment agreement are much higher if you inform the bank about financial difficulties that have arisen before the first delay occurs. A credit institution, just like a borrower, is interested in resolving the problem by offering any financial instrument, taking into account the specifics of a particular situation.

Bank employees understand that the borrower who applied to them intends to continue fulfilling his obligations by changing the previous conditions to a more acceptable repayment option. However, it should be borne in mind that not all borrowers have a chance to revise lending conditions. The creditor will assess whether the reason for the request for a delay can be considered valid.

Loan repayment options available

Most banks are constantly faced with the problem of non-payments associated with the deterioration of the solvency of borrowers. Home Credit Bank, Svyaznoy Bank, Vostochny Express, BystroBank, Post Bank, Raiffeisen Bank and many other credit organizations offer various programs for resolving the problem of further loan servicing.

As one of the tools that help Orient Express customers, a deferment on the main body of the loan for up to 3 months is used. However, this measure is designed for borrowers on strictly defined types of loans and no more than twice for the entire term of the loan.

Post Bank also offers its conscientious borrowers to revise the terms of the contract for more acceptable ones. Post Bank considers borrowers' applications submitted in writing, provided that the borrower was characterized as a responsible and conscientious payer. Post Bank implements an individual approach to each situation, offering various tools to resolve a financial issue.

Raiffeisen Bank, like Post Bank, provides for a loan deferral for a period of not more than 6 months, subject to maintaining payments on the principal debt, with the possibility of extending the loan term.

Good reasons for delay

Under the following circumstances, customers can expect to renegotiate credit terms and provide deferred payments:

In case of loss of earnings and dismissal from the main place of employment. Lenders considering an appeal will be interested in the reason for dismissal.
Illness and forthcoming significant expenses for treatment for yourself and close relatives.
Loss of the breadwinner who was dependent on the client.
Change of region of residence.
Loss of property during a natural disaster or theft.
Maternity leave or vacation up to 1.5 years.

In addition, each credit institution has an internal list of clients and their credit histories, based on which reliable clients are provided with more flexible conditions, because in the bank-client relationship, much depends on the degree of trust.

Grounds for refusal

With a high degree of probability, the bank refuses the following borrowers:

Individuals with damaged credit history.
If, after issuing a loan, the client has made less than 3 monthly payments.
If less than 3 months are left before the loan expiration date.
Borrowers who applied for a deferral on the basis of false information, the provision of false documents indicating a deterioration in solvency.

Thus, the refusal of the bank will be affected not only by the circumstances that caused financial difficulties, but also by the reputation of the borrower. The loan agreement may or may not contain provisions for the possibility of deferment. In any case, the bank will make the final decision taking into account the best option for both sides.

Ways to get a deferral

In the banking environment, the following options for revising lending conditions are available:

rescheduling;
changing the terms of the loan (or restructuring);
re-issuance of a loan with more affordable repayment terms (or refinancing).

For clients whose material difficulties are of a temporary nature, a delay in loan payments is more preferable. Suspension of loan repayment will allow the client to find a new source of income and continue to pay the required amount in a timely manner in accordance with the changed schedule.

Revision of the maturity

This variant is known as "credit holidays on the body of the loan." The borrower is released from principal payments while interest continues to accrue. Deferred payment entails an increase in the amount of payment after the end of the vacation period - by the end of the period. Most often, the lender allows you to defer payments for up to 6 months.

The following types of credit holidays should be distinguished:

Credit holidays with the transfer of repayment of the principal debt.
Interest deferral, also known as interest holiday.
Full credit holidays.

Each of the options differs in the degree of profitability for the borrower and lender. However, any of the above measures will help in solving the problem of paying off credit obligations.

Credit holidays

Holidays in the body of the loan mean a delay in payment of the principal debt. During a certain period, the borrower pays only interest for the use of land funds. As a result of using this type of deferment, the loan term and the amount of overpayment increase, since interest continues to be paid during the holidays. Such installment of loan payments is more profitable at the beginning if the loan is taken on the terms of a differentiated payment. With an annuity payment, a large proportion of the payment at the beginning of the term is interest. This method will not bring adequate relief of the financial burden and will even be unprofitable for the borrower due to the need to continue paying amounts to service interest.

A much rarer type of deferral is interest-based credit holidays. The borrower is given a chance not to pay interest on the used funds of the bank, while making payments towards repayment of the principal debt. As a result, the body of the loan is repaid, and the overpayment of interest becomes less due to the deferment provided. Each specific bank will individually decide the issue, based on its own internal policy and the possibility of assigning one or another type of deferral.

Postponement of payments on principal and interest, the so-called. full vacation, provided for a short period of time - no more than 3 months.

Restructuring

Debt restructuring is another option for resolving the situation with servicing a loan in the face of deteriorating customer solvency. The client applies to the bank for a review of the basic terms of the loan, giving strong arguments and offering a structured repayment plan, taking into account the personal financial situation. The lender, in turn, can provide a recalculation of the contributions, increasing the term of the credit line. Thus, the borrower will have to pay the principal on the loan and interest on its servicing for a longer period of time, which will lead to a reduction in the financial burden.

Refinancing

One of the popular ways to solve a problem with a loan debt is to refinance credit obligations. Many banks use this service in order to attract customers of other organizations to serve in their bank, providing more attractive repayment terms. The essence of refinancing is refinancing, or obtaining a new loan to repay an existing loan with changing conditions in favor of the client. As a result, the borrower can expect:

To increase the loan term.
Reducing interest rates for maintenance.
Reduced monthly payment.

Variants of schemes for the implementation of the refinancing program depend only on the banks themselves. For individual clients, the bank provides individual on-lending programs that are not available in standard offers. A new loan agreement is concluded, under the terms of which the client undertakes to repay the existing loan in another bank and switch to repaying new financial obligations. You should be careful when concluding a new contract, you need to familiarize yourself with the details of the loan. Delay on a new loan may lead to termination of the agreement and the requirement of the bank to repay the debt in full ahead of schedule.

The procedure for issuing a deferment

Unlike unauthorized delay, the absence of payment on time in accordance with the repayment schedule can be agreed with the bank, which means that penalties for non-payment of the loan will not be applied.

Liability for non-payments

In the event of a payment delay of no more than 2-5 days, the borrower will be charged a fine or block the card. If the client was still unable to contribute funds to the account of the monthly payment and stopped all payments, an appeal to the court by the creditor will follow. If the financial situation is really serious and in the near future it will not be possible to pay the debt, you must urgently contact the bank - the sooner, the less consequences the defaulter will expect.

Sequencing

Following a simple sequence, the borrower will be able to resolve the issue with further debt servicing, avoiding serious troubles associated with bank charges and a damaged credit history:

A client who finds himself in a difficult situation applies to a bank branch and reports in writing about the problems that have arisen with the repayment of the loan.
The application is supported by documents, certificates, indicating a deterioration in solvency (illness, job loss, other reasons).
If the agreement with the creditor contains a clause on the possibility of applying a deferral, further actions are regulated in accordance with the agreement.
If there are no provisions in the document describing the possibility of deferment, the credit institution will decide the issue individually, based on its policy, taking into account the real financial situation of the client and how valid the reasons for the deterioration in solvency are.
In the absence of special claims against the client, the bank may offer to resolve the issue through restructuring.
With a positive consideration of the application, a new contract is signed, the terms of which are softer.
After signing a new agreement, the borrower switches to new lending conditions, revising the term for using borrowed funds, as well as the amount of the monthly payment.

These measures will allow the borrower, despite the gravity of the situation, to maintain a good credit history, which will further facilitate lending on new bank offers after the execution of the current contract. Even if there is practically no hope of receiving a deferment, a written request for a deferral must be made in any case: with further attempts by the bank to recover the debt from the borrower through the court, the client will be able to provide documentary evidence that he took timely steps to resolve the issue with payments.

Deferred payment is an arrangement under which the buyer repays the debt to the seller some time after the actual transfer of the goods to him. Depending on the terms of the agreement, payment is made in a lump sum or in several partial payments. The seller can apply an interest rate to the price (which will turn the transaction into a commodity credit) or refuse additional charges.

Deferred payment as a marketing tool

The use of deferred payments is one of the most common marketing tools. Customers are attracted by the concept itself, the ability to pick up the product and start using it immediately, without spending anything. The implementation of a deferred payment program in stores selling expensive goods, such as cars, is especially relevant: often the client is simply not able to pay the full amount immediately, but has reason to believe that he will be able to pay off the debt to the seller by a certain date. The opportunity to use deferred payment can be provided only to a privileged (regular) client or any buyer - this aspect remains at the discretion of the firm's marketers. An alternative option for marketing conditions is to provide preferred customers with preferential terms (minimum interest rate) compared to ordinary customers.

Classification process

A company that decides to use deferred payment to attract customers is faced with a number of questions, the main one being: how to determine which customers are trustworthy and which are not? A secondary question: what is the criterion for dividing buyers into privileged and others?

If the client has a long-term relationship with the seller or a positive credit history, he can count on getting the opportunity to defer payment. If the client is applying to the organization for a purchase for the first time, he will probably have to go through a solvency assessment procedure and put up with a fairly high interest rate, because in such ways the seller company is trying to compensate for the significant risk of default.

Installment: are there any "pitfalls"?

An installment offer is becoming more and more relevant - a gradual payment without accruing interest. This service is offered by many trading companies selling electronics and furniture. Despite the doubts of buyers, the installment plan does not really imply an overpayment. The mechanism is as follows: a bank that provides an installment plan for a product actually gives a loan with interest, however, the absolute value of the interest is equal to the discount that the trading company makes to the client. Interest and discount cancel each other out, as a result of which the client pays the price that appears on the price tag. If the client does not make periodic payments or makes them late, with installments, as with a loan, penalties and fines are charged on the outstanding balance.

Common deferred payment scheme

Most often, trading firms use the following scheme: the client receives the goods, after which he may not pay anything for six months, because interest is not charged. Six months later, the buyer must decide whether to repay the entire amount immediately without interest or pay in installments, but with interest. If the buyer prefers the second option, interest continues to accrue until the debt is repaid in full.

Payment deferment– the most popular way to improve the terms of payment for deliveries by supplier. An agreement with the supplier to pay, for example, 14 days after delivery, in some industries is a sine qua non even for the first transaction. The postponement must be necessarily spelled out in the contract - if this is not done, then in accordance with the law, the obligation to pay for the goods buyer the default occurs immediately after receiving the goods.

In this article you will find answers to the following questions:

If you are a seller: how much actual money do you give to a customer when you give them a payment grace period? If you are a buyer: how much real money does the supplier spend on you in this case?
What is more profitable - to work with a supplier on a deferred or prepaid basis?
How to determine a better offer among suppliers by comparing their different prices and different payment terms?

The formula for calculating the cost of deferral

Don't forget that any payment deferment is the actual financial cost of the supplier. In my practice of managing commercial departments, I made an estimate of the cost of deferment when I confirmed it to the client as 2% of the delivery amount for one month of payment deferment. A similar cost-of-money-risk approach was taken by many executives I knew.

Factors affecting the cost of deferred payment for the buyer

Picture 1

To calculate the savings that the buyer will receive by agreeing with the supplier on deferred payment, you can use the following formula:

OP \u003d (EDV / 365) x (BP / 100%) x SC,

where OP is the cost of deferred payment, rub.;

SC - the amount of the contract, agreement, transaction, rub.

Figure 2

This formula, with sufficient accuracy, gives an understanding of how much money you save by using deferred payment supplier. The logic of this formula is that you estimate how much money you would need to spend to attract a bank loan in order to pay the supplier upon delivery.

You can also think of this formula as a way to estimate how much money your company is spending providing deferred payment to their clients. In this case, entrepreneurs add another 20% to the received number, taking into account the risk of non-return of money and the costs of obtaining overdue debts.

Factors affecting the cost of deferment for the supplier

Figure 3

Example of calculating the delay effect

Consider an example of how to evaluate the economic effect of a delay on the buyer. Let's say you buy canisters from a supplier on a pay-as-you-go basis. During long and difficult negotiations, you managed to get from the supplier deferred payment 21 day. The amount of your order will be 1 million rubles. The financial director told you that at the moment your company can attract borrowed money from the bank at 22% per annum. Let's estimate the cost of deferred payment in this case:

OP \u003d (21 / 365) × (22 / 100) × 1,000,000 \u003d 12,658 rubles.

We can assume that 12,658 rubles. you saved the company. If payment deferment not received, the company has to pay the supplier 21 days early, which would require a bank loan. RUB 12,658 - this is the money that would have to be spent for the company to use a loan of 1 million rubles. within 21 days.

When assessing the cost of credit money, it is correct to take into account not only the percentage per annum, but also all kinds of one-time payments to the bank for opening a credit line: various commissions, expenses for registration and insurance of collateral, and other expenses that arise in the course of processing and servicing the loan.

The calculation formula I have given will also be useful if you buy goods from a supplier on a prepaid basis, and also with a long delivery time. In this situation, we can assume that you are lending to the supplier. The prepayment cost can be calculated using the same formula, but instead of the number of days of delay, substitute the number of days from the moment of payment until the moment the goods arrive to you into the formula.

In some companies, a price is announced to the client, to which, depending on the number of days of delay, a certain percentage is added. For example, the price of a product is 200 rubles, if you want a delay for a week, the price will be 202 rubles, if for a month - 210 rubles. In this case, the first thing to be done by the buyer is to maximize the prices offered with deferred payment, and the second is the calculation of the profitability of such an offer.

Evaluation of the profitability of a transaction with a delay

An assessment of the profitability of the price of a product with a delay compared to the price of a product without a delay can be made using the inequality:

NZO / (100% - NZO) x (365 / BWW) x 100% ≤ BP,

where NZO - surcharge for deferment,% (the amount of the lost discount if the transaction is with a deferred payment);

KDO - the number of days of delay;

BP - bank percentage of borrowed funds,%.

Figure 4

If the inequality is met, then it is more profitable to use the supplier's money than credit money, so the delay in this case will bring additional profit to the company. If it is not satisfied, and the left side of the inequality is greater than the right side, the delay is unprofitable.

For example, you buy canisters from a supplier on a pay-as-you-go basis. The price for a canister is 200 rubles. In the course of negotiations on changing the terms of delivery, you settled on the fact that with the deferred payment 21 days the cost of the canister will be 206 rubles. The CFO told you that at the moment your company can raise borrowed money at 22% per annum. The surcharge for the delay is (206 - 200) = 6 rubles. or 3%. Let's evaluate the benefit of working with deferred payment in this case:

3 / (100 - 3) × (365 / 21) × 100% \u003d 53.75? 22

53,75% > 22%

The left side is larger than the right. The inequality shows that, under such conditions, to work with a supplier with deferred payment unprofitable. It is necessary to sit down at the negotiating table again, or make a managerial decision: agree to continue work with payment upon delivery of canisters, or prefer a more expensive deferred payment than credit money. In the above example, it is profitable to work with a delay of 21 days if the price increases by no more than 1.25%.

Many of the foreign manufacturing companies I work with do not work with Russian suppliers on a deferred payment basis. Their task is to get the lowest possible price and a set of conditions instead of a delay. The cost of European money at an average credit rate of 3% per annum is six to ten times cheaper than Russian money. Therefore, for a European company to work with Russian suppliers on a deferred basis is often tantamount to inefficient and expensive lending.

Comparison of conditions of two suppliers

If it becomes necessary to compare two suppliers with the same product, but with a different price and deferred payment(ceteris paribus), you can use the "conditional purchase price" - an estimate of the cost of the purchase, taking into account the delay:

UslZak \u003d ZAK x (1 - (BP / 100%) x (KDO / 365)),

where UslZak is the conditional purchase price, taking into account the deferment provided by the supplier, rubles;

ZAK - purchase price, rub.;

BP - bank percentage of borrowed funds,%;

KDO - the number of days of delay.

Figure 5

For example, we have two offers from suppliers "Alpha" and "Beta" for canisters. The canisters are exactly the same and, ceteris paribus, suppliers differ only in price and delay. The supplier "Alpha" offers a price for a canister of 200 rubles. and does not give deferred payment. Supplier "Beta" provides a price of 205 rubles. and gives you a 30 day grace period. Suppose that your company can raise borrowed money at 22% per annum. Which offer is better? Calculate the conditional purchase price for two suppliers:

"Alpha": UslZak \u003d 200 × (1 - (22/100) × (0/365)) \u003d 200 rubles.

"Beta": UslZak \u003d 205 × (1 - (22 / 100) × (30 / 365)) \u003d 201.3 rubles.

Thus, despite the fact that the Alpha supplier does not provide a deferred payment, its offer, taking into account the cost of the deferred payment, will be more profitable than that of the Beta supplier. It can be calculated that the offer of the supplier "Beta" becomes more profitable than "Alpha" under the condition deferred payment over 41 days.

How negotiate a postponement

Postponement pl atezha- the most important condition of the contract with the supplier. I recommend that buyers move on to discussing the size of the delay after certain agreements are reached on the price - if you start negotiations with a delay, it will be included in the price.

If you are currently working with deferred payment, get the lower prepaid price, and evaluate the performance of these two prices using the formula above. Run a few trades without a payment deferral and then try to get a deferment while maintaining the recently received prepaid price.

If you are a seller, remember that each day of the extension you get costs your company some money, and be sure to "sell" the extension - it's actually an additional discount your customer gets. Don't forget also that postponement payment can be not only 14, 30, 60 days, but also 11, 26, 47 days.