Borrower guide
For businesses (PKP) that want to be paid today for a Faktur Pajak their buyer pays later.
Before you start
- You are a PKP (VAT-registered business) and your invoice is a Faktur Pajak in Coretax.
- Your buyer will pay you on a known due date, at most 180 days from today.
- You have a wallet with a little Arbitrum Sepolia ETH. See Try the demo.
Step by step
Verify your business (once)
On Borrow, press Verify your business. The app shows the business linked to your wallet in the (simulated) PJAP account: name, masked NPWP and PKP status. You then sign a message proving the wallet is yours. Signing is free: no transaction, no gas.
The credential issuer writes three records to Chainlink ACE:
- a CCID (cross-chain identity) for your wallet,
- a
common.kybcredential (verified business), - an
id.fakturin.pkpcredential whose data is the hash of your NPWP. The NPWP itself never goes onchain.
Pick a Faktur Pajak
The app lists the Faktur Pajak issued under your NPWP (simulated Coretax). Pick one, or type a number. Before you submit, you see the full price for this invoice: your cost, what you get now, what is held back and when you repay. See Pricing.
Submit (one transaction)
Press Submit. Your wallet asks you to confirm one transaction, requestVerification(fakturNumber). It costs only gas; no token approval is needed. The invoice is now Checking.
Chainlink checks it with the tax office
The verifier (Chainlink CRE, or the demo relayer) reads the request, asks PJAP about the Faktur Pajak, and writes the answer back. Within seconds your invoice is either:
- Raising funds: valid and the NPWP matches yours. A vault is created and the invoice NFT is minted into it, stamped VERIFIED.
- Rejected, with the reason: not found, cancelled, replaced, not your NPWP, already due, tenor over 180 days, or over a limit. See reject codes. A rejected number can be submitted again later.
Get paid
Lenders fill the vault. The deposit that reaches the target sends you 80% of the invoice in the same transaction. There is nothing to claim. Your invoice is now Financed and the page shows your repay date.
If the vault is not full within 3 days, it is closed automatically, lenders get their money back, and you may submit the number again.
Repay on the due date
When your buyer pays you, press Repay. Two wallet prompts:
- Approve the vault to take exactly the invoice amount in MockIDRX (not unlimited).
- Repay: the vault takes the full invoice amount and immediately sends your holdback back to you.
The invoice closes as Repaid, the NFT is burned and its picture keeps a LUNAS stamp.
What it costs
You pay 1.5% of the invoice per 30 days until the due date, all-in, priced by the second. Nothing else: no admin fee, no fee if lenders do not fill the vault.
| Rp100,000,000 invoice, due in 60 days | Amount |
|---|---|
| Your cost (1.5% × 60/30) | Rp3,000,000 |
| Paid to you when the vault is full (80%) | Rp80,000,000 |
| Held back in the vault | Rp17,000,000 |
| You repay on the due date | Rp100,000,000 |
| Returned to you on repayment | Rp17,000,000 |
| Net: received 97M, paid 100M | Rp3,000,000 |
The platform's share (10% of your cost) is taken out of the lenders' side on repayment, not added on top. Try other amounts in the pricing calculator.
If you do not repay
Fakturin is silent factoring with recourse: your buyer is not told, and you stay responsible for repaying.
- After the due date plus a grace period (60 seconds in the demo, days in production), the keeper closes the vault as Defaulted. Nobody has to press a button.
- The holdback stays in the vault and goes to the lenders. You lose it.
- Your wallet is flagged as defaulted onchain. You can never submit another invoice, and anyone can see the flag on Check.
- The Faktur Pajak number can never be financed again.
Limits
| Limit | Demo value |
|---|---|
| Open financing per seller | Rp200,000,000 |
| Open financing per buyer NPWP (across all sellers) | Rp500,000,000 |
| Longest tenor | 180 days |
| Funding window | 3 days |
Limits count invoices that are raising funds or financed, and free up when they close.
They can try, but the verification result carries the hash of the NPWP printed on the Faktur Pajak. If it is not the NPWP in their wallet's PKP credential, the invoice is rejected with SELLER_MISMATCH.
Not on Fakturin: one number, one financing, forever. Outside Fakturin, anyone can look the number up on Check before lending.
The 17% holdback protects lenders if you do not repay. You get it back the moment you repay, so your real cost is only the 3%.
The invoice NFT is minted into the invoice's own vault and cannot be transferred. That is what makes double financing impossible. You can see it on the Borrow page and on Check.