Zug, Switzerland

Done Partners announce initial DNI transactions as per ITFA’s DNI Initiative

7 August 2024 – Press Release by Done Partners

Done Partners, a European leader in international supply chain management, announced today use of digital negotiable instruments to increase working capital.

Done Partners is a Swiss supply chain and logistics expert which helps Ukrainian distributors source various types of finished products from Global manufacturers. Done Partners assists its clients – manufacturers and distributors – ensure reliable delivery and reduced operational risks and costs. 

“We handle complex supply chain and logistics processes on a global scale. To fuel our growth, we decided to involve a range of non-bank funders to grow our operations.”, explains Dmitrii Rivkin, Co-founder and CEO, Done Partners. “We quickly found out that the traditional trade finance instruments such as the letter of credit are too complex to handle for our SME-type suppliers and clients. We thus shifted our focus on the most advanced open account options including promissory notes and bills of exchange as offered by the DNI Initiative.”

In December 2023, Done Partners joined the DNI Initiative – as a corporate obligor – to discover the newly available options and engage with various lenders which contribute to the global industry effort. The Digital Negotiable Instruments (DNI) Initiative gathers lenders, law firms and technology vendors committed to the digitization of negotiable instruments, and delivers thought leadership and transaction testimonials to the market.

In April 2020, the DNI Initiative delivered the electronic payment undertaking (ePU) which represents the initial and most pragmatic approach to digitise irrevocable payment obligations. The ePU enables businesses and their lenders to transact based on digital negotiable instruments such as e-promissory notes and e-bills of exchange under English contract law.

“Done Partners is the perfect example of high-growth business expecting lenders to tailor funding options to repetitive open account transactions. Digital negotiable instruments represent a perfect fit as they accelerate funding processes in a very convenient way, whether operated under contract or common law.”, said André Casterman, Founder, Casterman Advisory and board member with ITFA who leads the DNI Initiative as part of ITFA’s Fintech Committee. “I congratulate Done Partners for becoming an early adopter of DNIs and acting as a role model in digital open account financing”.

Going forward, Done Partners will continue to expand its use of digital negotiable instruments with additional lenders across its supply chains.

About Done Partners

Done Partners is a Swiss supply chain and logistics expert which helps Ukrainian distributors source various types of finished products from global manufacturers. Done Partners assists its clients – manufacturers and distributors – ensure reliable delivery and reduced operational risks and costs. www.done.partners

About ITFA’s DNI Initiative

The DNI Initiative is a community of law firms, alternative lenders, banks, technology companies, logistics companies and corporates aiming to benefit from laws and technologies based on the Model Law for Electronic Transferable Records (MLETR) which was developed by the United Nations’ Center for International Trade Law (UNCITRAL). The members of the DNI Initiative advocate for UNCITRAL’s MLETR to policy makers and demonstrate how the use of interoperable negotiable instruments across banking and logistics helps originators scale trade financing in support of their corporate clients. Transactions are delivered by members to the market whether operated on open account basis, or under ICC rules. The initiative is chaired by André Casterman in his capacity of ITFA Board Member and Chair of the Fintech Committee. Find out more about the DNI Initiative blueprint.