Settlement

Sivo Advance enables fintech platforms to offer accelerated settlement to customers. This guide provides a high-level overview of implementing Sivo Advance in your platform.

---
config:
  theme: redux
---
sequenceDiagram
    autonumber
    actor S as Seller
    participant Sivo as Sivo Advance

    S ->> Sivo: Create buyer
    alt on deficit
    S ->>+ Sivo: Create settlement
    Note over Sivo: Next ACH Window
    Sivo --)- S: USD ACH Deposit
    else on surplus
    S --) Sivo: USD ACH Deposit
    end

Implementation Workflow

1. Create Buyer

Register the buyer (a.k.a. counterparty) that is transferring the funds. This only needs to be done for new buyers and can be skipped for existing ones.

POST /accounts

Important buyer information includes:

• Legal entity information
• Business address
• Contact information
• For underwriting:
• Industry
  • Legal entity ID (Tax ID)
  • KYX status

2. Create Settlement

When additional funds are required, create a settlement in the system. Settlements can be created at any time. An ACH transfer for submitted settlements will occur in the next ACH window.

POST /sellers/{seller_id}/sale-transactions

The request should include all the required properties. Special notes for settlements:

• buyer_id: provide the id of the buyer created in the first step
• available_on: should be set to null

4. ACH Deposits

During surplus periods an ACH deposit can be sent to Sivo to reduce the outstanding balance and associated fees. Make sure to include the seller_id in the payment reference to ensure that your payment is applied without delays.

Best Practices

1. Comprehensive Data Collection: Provide as much data as possible when creating buyers to improve underwriting.

2. Accurate Data: Provide complete and correct data to ensure accurate advance calculations.

For detailed API specifications, see the API Reference.