Covid Crisis: Petrobras Launches Financial Platform for Suppliers’ Receivables

The anticipation of receivables is common in the market, but depending on the financial institution and the credit risk of the company requesting the advance, rates can range between 1.5% and 2% per month.

RIO DE JANEIRO, BRAZIL - Given the deep crisis that the oil industry is facing in these pandemic times, the ones suffering the most are production chain suppliers that, for the most part, do not have the financial muscle of large multinationals.

In this scenario, Petrobras announced on Tuesday, November 24th, the launching of a platform that permits suppliers to anticipate invoices for goods and services already provided, that is, suppliers can submit and receive their invoices earlier than the normal payment deadline, paying low interest rates for easing their cash flow.

The anticipation of receivables is common in the market . . .

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