B2B Billing
Policy Background
This policy is to provide swift and accurate payment for suppliers who have entered into a purchase agreement with SAMSUNG SDI, and to help increase liquidity of small-to-medium sized businesses.
B2B Billing Overview
Under this scheme, SAMSUNG SDI signs an agreement with a financial institution and appoints such institution to act as a paying agent for payment for the supply made. SAMSUNG SDI makes payment for the supply made to the financial institution, and the supplier then receives the payment on the agreed-upon due date. In the event where a supplier wishes to receive advance payment (hereinafter “loan”), the supplier will promptly receive such payment in cash upon paying the loan interests for the corresponding period. * Loan application is available after confirming that electronic bill has been issued on the respective bank’s online banking system.
B2B Billing Flow Chart
- one Create invoice
- two Transfer credit claims
- three Send purchase statement (9th, 19th, and 29th of each month)
- four Notify transfer of credit claims
- five Request payment
- six Process payment
- seven Make payment on due date
| Buyer (SAMSUNG SDI) | Sends a closing statement (made for the respective dates and operations) to the bank after the purchase and makes payment for such purchase on a due date. |
|---|---|
| Financial Institution (KB Bank, Wooribank, IBK, Citibank, KEB Hana Bank, Shinhan Bank) |
Notifies the buyer of transfer of credit claims upon receiving the closing statement from the buyer. Processes the payment on a due date, or at a time requested by the buyer. Receives the payment from the buyer on a due date. |
| Partner Supplier | Once registered on the bank’s B2B system, an electronic bill is issued or cash is paid on a due date. |
Procedure
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Select B2B agent bank
Pool: KB Bank, Wooribank, IBK, Citibank, KEB Hana Bank, Shinhan Bank
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Fill out B2B agreement provided by bank
Download and fill out the form (corporate seal imprint, etc.)
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Interact with B2B agent bank
Visit the bank with B2B agreement and related documents or sign the agreement via online banking system
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Sign B2B agreement with SAMSUNG SDI
After the signing, the following documents should be sent by registered mail.
Table of B2B agreement with SAMSUNG SDI, including documents to be submitted, registered sender, agreement guide, and form items Documents Mail sent to Guideline and Template for Agreement - Payment agreement
- Notice
of payment account - Certificate of corporate (personal)
seal imprint - Copy of payment account book
- Copy of
business registration certificate - Confirmation of purchase agreement (a document confirming that the agreement has been made with SAMSUNG SDI)
[17084] 150-120, GONGSE-RO GIHEUNG-GU YONGIN-SI, GYEONGGI-DO SAMSUNG SDI Finance & Accounting Team, Payment Manager
Download Table of B2B agreement with SAMSUNG SDI, including documents to be submitted, registered sender, agreement guide, and form items Documents - Payment agreement
- Notice
of payment account - Certificate of corporate (personal)
seal imprint - Copy of payment account book
- Copy of
business registration certificate - Confirmation of purchase agreement (a document confirming that the agreement has been made with SAMSUNG SDI)
Mail sent to [17084] 150-120, GONGSE-RO GIHEUNG-GU YONGIN-SI, GYEONGGI-DO SAMSUNG SDI Finance & Accounting Team, Payment Manager
Guideline and Template for Agreement