We wanted to update you on some important news. Cint is investing in development and platform/API feature releases to reduce the delta between actual payouts and Indicative CPIs to improve the supplier experience and accuracy of overall invoicing when working with our platform and buyers in the open exchange.
In addition to taking account of client-specific rebates when calculating the indicative CPI, we will also include the effect of any foreign exchange fees for managing different currency conversions across multiple currencies we operate with around the world. In line with these technical enhancements, Cint is taking this opportunity to provide greater clarity on the fee descriptions set out in the supply partnership agreement and we kindly ask you to sign this Addendum.
As set out in the Addendum, Cint will apply a 5% charge on the gross payment received by us from our customers if we need to convert the payment into your preferred currency (i.e. when you are paid in a different currency to that used by the customer). This is to cover the costs incurred by Cint in terms of e.g. bank fees, treasury handling cost, conversion costs, potential hedging and/or risk exposure/premium. This is always calculated based on the current market exchange rates and happens before the revenue share is calculated.
Please don’t hesitate to contact us with any queries: