GET PAID FOR YOUR GRAIN, NOW

When a buyer sends you a price offer for your crop, any eligible bids will be clearly marked with Advance Pay so that you can see where you can quickly get paid for your grain.

At the moment, the only trades eligible for Advance Pay are for harvested crops, offered for movement within 6 months.

Advance Pay enables you to meet short-term financial obligations, while also capturing opportunities from changing market conditions for long-term profitability impact.

This is key to your grain marketing strategy, increasing price opportunities for better margins and improving risk management at highly competitive interest rates. For example, the market may not have demand for spot contracts but the carry offered for forward movements could be significant. With Advance Pay, you don't have to worry about cash flow on forward movements as you can receive a proportion of the value of the contract immediately, taking advantage of the carry offered and getting your cash quickly.

We’ll also help you receive a timely settlement from the buyer by directly informing their finance department based on the movement and repayment terms.

Hectare Trading are working with a partner to give farmers across the UK access to cash flow when they need it.

Effectively, when you make a trade on Hectare Trading and accept Advance Pay, you are agreeing to sell your receivable to a 3rd party. The 3rd party advances money against your trade contract so that you can release cash from the contract giving you confidence to trade and accept forward movement when the market is right for you.

Here's how it works:

• Accept a trade with Advance Pay for a prepayment up to 80% within 3 working days.

• Add your bank details so we know where to send the payment.

• When you get the contract from the buyer, email this to help@wearehectare.com and this action will trigger the payout to your bank account.

• To get your 2nd payment, tell us when the crop is moved off farm by uploading a collection receipt, and we’ll prompt the buyer to ensure a timely settlement for you.

• Receive the final 20% of the contract value in settlement upon standard buyer repayment terms.

• All fees are taken once movement is confirmed, and you will always receive the final 20% of the contract value with any adjustments on settlement by the buyer.

• The percentage amount received in advance depends on the expected days from trading to the buyer repayment for your Advance Pay trade, as shown below:

• Up to 90 days, you’ll receive 80% of the contract value within 3 working days

• Up to 120 days, you’ll receive 70% upfront, and 10% on movement confirmation

• Up to 150 days, you’ll receive 60% upfront, and 20% on movement confirmation

• Up to 210 days, you’ll receive 50% upfront, and 30% on movement confirmation

• The final settlement, bar any deductions for weighbridge or spec changes will be made in line with the buyer's standard payment terms.

1. Enter your bank details when you accept the trade

2. When the buyer sends you the contract (for most buyers, you should expect this within 24 hours), you'll need to email this to us at help@wearehectare.com

3. After the contract is emailed to us, you’ll receive payment

This whole process usually results in the money arriving in your account within 3 days of accepting the trade.

Please make sure that you get the contract from the buyer (we chase them for you but do remember to call/email to remind them to send you a contract if you don't get it within 24 hours) and email it to us straight away so as not to delay payment.

With Advance Pay, there are no hidden fees. When you get an offer from a buyer, the Advance Pay cost is clearly presented upfront, calculated based on moving on the last day of the movement month.

Should you move the crop before the month's end and let us know about the earlier movement date, the fees will be adjusted and reduced proportionately to the number of days by which the crop is moved ahead of schedule.

For example, if the movement month is May, the maximum fees will be calculated based on moving on the 31 May. If you move the crop on the 21 May, your fees will be recalculated and you'll get a 10 day fee reduction.

Please notify us promptly when the final movement occurs. Log in to Hectare Trading, find the trade with Advance Pay, and upload confirmation of the movement. If the movement occurs before the end of the month, you'll enjoy reduced fees, paying only the daily fee based on the confirmation date. Remember to provide the information promptly to avoid being charged extra fees as if you tell us about the movement after the event, fees will be charged up until you upload your final movement confirmation.

There is no change to your existing use of Hectare Trading. Advance Pay is simply an additional option should you wish to accept a trade with prepayment.

Hectare Trading are working with a 3rd party finance partner to give farmers across the UK access to cash flow when they need it.

When you make a trade on Hectare Trading and accept Advance Pay, you are agreeing to sell your receivable to this 3rd party. The 3rd party advances the money to you, secured against your trade contract with the buyer. This gives you access to cash flow when you need it.

There is no change to your grain ownership. You retain ownership of the grain in line with the buyer's standard terms and conditions of their contract.

Absolutely, we know that haulage for movements is often only confirmed at the last minute, and so Advance Pay is set up to be flexible for this. When accepting a trade from a buyer’s price offer on your listing, you’ll accept a movement month or months which will be used to calculate the maximum fees based on a daily interest rate.

For example, if your movement month is May, the fees shown will be for movement on the 31st May.

When your movement is confirmed by the buyer, you'll need to tell us and provide confirmation of the final movement so that the actual fees you'll be charged can be calculated to reflect the earlier movement date.

For example, if you move the crop on the 21st May, you'll be charged 10 days less in fees.

Remember, you must tell us when the crop is moved in order to get a reduction in fees. If you don't provide confirmation of movement, you'll be charged the maximum fee.

When accepting a trade from a buyer’s price offer on your listing, you’ll accept a movement month or months which will be used to calculate the maximum fees based on a daily interest rate.

For example, if your movement month is May, the fees shown will be for movement on the 31st May.

When your movement is confirmed by the buyer, you'll need to tell us and provide confirmation of the final movement so that the actual fees you'll be charged can be calculated to reflect the earlier movement date.

For example, if you move the crop on the 21st May, you'll be charged 10 days less in fees.

If the movement date is later than the expected month through no fault of your own, you won't be charged additional fees. Talk to us and we'll work with you and the buyer to manage later movement dates.

If you meet eligibility criteria based on your history on Hectare Trading, you will be automatically pre-approved with no paperwork or application, removing the hassle so you have full trading freedom on all eligible price offers.

Eligibility criteria:

• You must be farm assured (Red Tractor or SQC)

• You must have been operating your farm for 2 or more years

• You must have completed at least one trade and movement with us

If you have more questions about Advance Pay and want to discuss further, feel free to call our friendly team on 0330 828 5766, or email help@wearehectare.com.