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Payer Approval

Funder knowledge baseInstrument Submission and ApprovalInstrument Workflow: Approvals

Payer Approval

Payer Approval is the first step in the Instrument Approval Workflow and refers to the authorisation of an Instrument for a particular transaction made by the Customer/Payer. It is an optional step that can be added as an approval during Product Structure & Workflow Set up.  

It is a two-step approval, consisting of a Maker and Checker review. 

Depending on the agreed workflow: 

  1. An Instrument is Uploaded and Submitted by a Customer

  2. A notification is sent to the Customer’s team responsible for review and approval

  3. The Maker initiates the review, ensuring accuracy and compliance

  4. The Checker then reviews the work to verify its correctness and completeness before it progresses

  5. Once the review is finalized and approved internally by the Payer the instrument will either be: 

    1. Sent to Request finance queue for an additional review from the Customer side

    2. Sent to the Funder Approval queue for your evaluation. You then have the option to approve or reject the instrument based on your assessment