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SmartPay policy

  • Updated

Introduction:

This policy outlines the process for submitting, approving, and paying invoices to ensure efficient financial transactions. When your account becomes SmartPay enabled you agree to use SmartPay for all viable transactions on the Platform and adhere to the following: 

 

Load Posters: 

  • Review and approve invoices promptly.
  • Query disputed invoices within 5 days of receipt.
  • Pay invoices by the due date specified on SmartPay.
  • Settle all invoices within the agreed payment terms.
  • Initiate invoice disputes using the query invoice function in SmartPay before the invoice due date.
  • Resolve disputes with carriers quickly.
  • Non-compliance with payment terms may result in penalties or account restrictions.
  • Maintain open and constructive communication with sellers to effectively resolve disputes.
  • If disputes remain unresolved, use The Exchange’s dispute resolution mechanism available on the diary page.

SmartPay restrictions

From 1 August 2026, members who are not processing invoices through SmartPay will be subject to the following restrictions:

  1. A maximum of 40 loads per month can be posted on the platform.
  2. Cancelled loads will no longer be added back to your monthly load allowance, including both Spot and Direct loads.

These changes form part of our ongoing commitment to maintaining a fair, secure and reliable platform for all members.

 

Carriers:

  • Submit all invoices and Proof of Delivery through SmartPay with a valid Proof of Delivery attached, for payment processing.
  • Ensure compliance with details on the booking footer and resolve disputes promptly.
  • Pursue payment for overdue invoices only after uploading both Proof of Delivery and the invoice to SmartPay and confirming the member’s payment terms.

 

General:

Policy Compliance and Ongoing Monitoring:

  • TEG monitors and enforces compliance with this SmartPay Policy. Violators may face penalties, including account suspension or termination.
  • Continuous monitoring mechanisms will ensure transaction integrity and efficiency, requiring user cooperation.
  • TEG may close user accounts associated with Modulr for policy violations or other necessary reasons, with or without prior notification. 
  • Access to SmartPay may be revoked for, but not limited to, repeated late payments, failure to resolve disputes efficiently or opting to not utilise SmartPay where available. Compliance with this policy ensures uninterrupted access to SmartPay services. 

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