Help Centre
About the Clearing Account for Agri Supplier Financing
Understand how repayment is collected through your Clearing Account
The Clearing Account is a special bank account that we open for you when you start using Agri Supplier Financing. It is in your business name and managed by Avenews. It is the account your buyer pays into when an invoice becomes due.
Why the Clearing Account exists
It makes repayment automatic. Instead of you having to collect payment from the buyer, send us our share, and keep the rest, the Clearing Account does this work for you. The whole process is clean and predictable.
How it works in practice
When you finance an invoice, the buyer is informed where to pay on the due date
On the due date, the buyer pays the full invoice into your Clearing Account
Avenews keeps the financed amount plus the markup
The remaining balance is sent to your normal business account
Worked example
Say you finance an invoice of KES 1,000,000 at 85%, drawing KES 850,000 for 30 days. The markup at 30 days is KES 43,350. When the buyer pays KES 1,000,000 into your Clearing Account, Avenews keeps KES 893,350. The remaining KES 106,650 is sent to your business account.
Important things to know
The Clearing Account is in your business name
Avenews manages it for the purpose of collecting buyer payments
Once the financing is settled, the remaining balance always goes to you