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Financial information

Financial information

Learn more about the banking conditions of your dedicated business account, key payment dates for invoices and further information on our invoicing process below.

Banking conditions

All current fees and any applicable interest to the business account are disclosed in the Banking conditions.

Our banking partner, ING Luxembourg, applies negative credit interest rates to business accounts with balances that exceed a threshold of EUR 500k, in the event that a market rate is used as a reference to determine such interest rate and this rate becomes negative. The calculation of the interest rate is based on the annual reference rate “Euribor 1 month” minus 10 basis points and is applied on a monthly basis and automatically debited from your business account.

We recommend you taking note of these additional costs when keeping sufficient funds on your business account as cash collateral for trading and/or the purpose of making payments to JAO. We would also like to remind you of the possibility to use a Bank guarantee as collateral instead of cash on your business account.

Invoicing calendar

The auctions’ invoicing calendar is based on the Luxembourgish calendar of public holidays and contains all important invoicing dates, so you can anticipate when your invoices are due and when you will be paid in case of a selfbilling for each month of the year.

Invoicing process

Our information package on the invoicing process clarifies the calculation of monthly instalments and the number of instalments that can be included in the first invoice of a capacity product. It also explains the monthly netting calculation of allocations and compensations.

Our finance team is available for any question you may have on our Service desk.