The discount charge is calculated by multiplying the invoice amount by the rate, where the rate includes the spread plus the Base Rate. This number is multiplied by the number of days from the date hyperclick purchases the invoice until the maturity date. This amount is then divided by 360 days.
Invoice x (BLR + Spread) x (Days Held by hyperclick /360days)
For example, the calculation on a RM10,000 invoice would be:
RM10,000 (6.0% + 3.0%) x (90 days -5 days) = RM212.50 discount charge 360
This discount charge is then deducted from the invoice and the Supplier receives funds on Day 5:
RM10,000 – RM212.50 – RM50.00 = RM9,737.50 paid to Supplier on Day 5