The UCC-1 lien is a financing statement that gives others, including existing or potential creditors, notice that Kickfurther has a prioritized right to take possession of the consignment inventory covered within. If this badge is lit up, it means that Kickfurther will file the lien after the Co-Op is funded.
The Repeat Brand badge represents that the brand launching the Co-Op has successfully completed at one Co-Op on Kickfurther. Successful completion is referred to as any Co-op where a business reaches the full due payout amount even if it is not within the projected timeline. You may peruse the details of their previous Co-Op payment schedule to judge their performance on past Co-Ops in a more detailed manner.
A Supplier Payment Verification badge represents that Kickfurther will either issue the payment to a third party supplier for the production of the inventory or provide the business with a reimbursement for a payment they have already made to their supplier. Co-Op
A purchase order is a contractual agreement to purchase inventory. If a Co-op has a Backed by a Purchase Order badge lit up, it represents that Kickfurther has received the purchase order document from the brand and has verified the SKU, Pricing, and Quantity details with the Retailer or Distributor who issued the purchase order contract to make sure it is valid.
After our due diligence team verifies the purchase order with the vendor that issued it, we then require that the business assigns ownership of the purchase order to Kickfurther. If this badge is lit up it means that upon successful fulfillment of the purchase order, the business agrees to allow payment for the purchase order to be made directly to Kickfurther instead of to them. In other words, when the inventory in the purchase order is delivered to the vendor, the vendor pays Kickfurther the amount due rather than the brand. This payment is then distributed as a payout to the buyers who contributed in the Co-Op.