Each Brand that a Partner has enabled can have a different financial relationship configured. The purpose of these is to provide information about the funds a Partner has with the Brand and to provide a control point on the value of codes issued by the Partner.
The following relationship types are used where Tillo own the financial/contractual relationship with the Brand and are re-selling their gift code content.
Monies on Account
Partners load money into their Tillo account which they can draw down from to make purchases. Unlike credit, the money is taken up front. The Partner cannot purchase more than they have paid over making it very low risk.
Tillo accept and authorise the transfer rather than Brands and then pass the money for the sales that have been placed to the Brand on an agreed schedule. Brands only have to invoice Tillo for the sales and not the Partners.
Direct Partner-Brand Relationships
The following relationship types are used when the Partner has a direct financial/contractual relationship with the Brand.
Tillo will be configured to record the Credit Limit and discount assigned to the Partner for each Brand. Each time the partner issues/activates/top-up a gift code, the value of the credit balance is increased by cost of the code (face value, less the discount at the Partner's agreed discount rate).
When using Brand Credit, the partner will have to register any invoice payments towards their credit within Tillo Hub. The Brand (or Agency) will then be notified to approve the payment within the Tillo Hub. Once the Brand approves the payment in the Hub, the Credit Balance is immediately reduced down by the amount of the payment.
Partners cannot sell more gift codes than their credit limit allows.
Optionally a brand can also specify a Credit Buffer. This allows the partner to go over the credit limit by the amount of the buffer.
Brand Monies on Account
Tillo will be configured to record the value of prepaid monies on account that the Partner holds with the Brand. Each time the partner issues/activates/top-up a gift code, the value of the Monies on Account balance is reduced by cost of the code (face value, less the discount at the Partner's agreed discount rate).
Partners must use the Partner Hub to register their intention to transfer money. When the Brands receives the money they will be required to log in to Tillo and confirm that the partner has lodged money with them so that the balance is increased.
Here the financial terms are not configured within Tillo. There is no credit limit or monies on account to control the amount of money the Partner spends with the Brand.
Configuring of the Partner's Brand discounts is optional for Own Terms. However we recommend putting the discount in to the system as this information helps both Partners and Brands reconcile their invoices.