3 Day Quick Pay Funding

What is First Media Funding?

First Media Funding is a Holt Media Companies affiliate that offers receivables liquidity to the out-of-home marketplace. FMF has partnered with DOmedia to simplify the process of executing on one of their core product offerings known as 3 Day Quick Pay. Through 3 Day Quick Pay, media sellers can submit media contracts between their company and a buying company for 3 Day Quick Pay consideration. If approved, FMF will purchase the entire contract's receivables from that media seller for 90% of it's value. As the media seller performs on that contract, they provide FMF with proof of performance and receive payment from FMF within 3 days of each insertion start date.

For more information on 3 Day Quick Pay, please visit First Media Funding's website here

How do I see this process in DOmedia?

1. Go to your Contract Dashboard

2. Review your media contract. 

3. Once you click 'Approve' on your contract, you will see 'Request 3 Day Quick Pay' on eligible contracts. Not all contracts are eligible for funding

View - Allows FMF to view the media contract between the media seller and media buyer

Revise Price - Allows FMF to adjust the purchase price percentage from the default 90%, which will automatically update FMF's Purchase Price

Once the 3 Day Quick Pay request is accepted by FMF, FMF will receive a success message:

And the seller will receive an email notification that their 3 Day Quick Pay Request has been accepted by FMF:

Once a 3 Day Quick Pay request is accepted by FMF, the purchase agreement between FMF and the media seller will now live in FMF's Contract Funding Dashboard, which is accessed in the Funding drop down menu:

FMF's Contract Funding Dashboard shows all 3 Day Quick Pay requests that have been accepted and the status of each:

Because payments from FMF, are triggered by the seller providing Proof of Performance (POP), sellers now have the ability to provide POP at the billing addendum level of the media contract between the seller and the buyer:

When a seller provides POP, FMF will receive an email notification:

The POP that sellers provide will flow through to FMF's funding contracts and populate the Date of Payment by Buyer field with a date that is 3 days after the POP was taken:

The legal document that accompanies this 3 Day Quick Pay Funding Contract is attached here.