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Invoicing
&
Bank Account

- Invoicing Process

- Bank Account information

Invoicing Process

Once both parties complete the licensing agreement, iXP Connect will review and sign the same agreement as your service provider.  A fully executed copy of the agreement will be shown in your transaction folder under the FILES tab.

Based on the terms agreed by both parties, we will prepare an invoice to the licensee.  The invoice will include the initial year license fee and our service fee ($500 per transaction) for the licensee.

Licensee will be instructed to make the payment via bank wire transaction, and the fund will be collected at iXP Connect's third-party Escrow Service.  The Escrow Service will hold the funds until all parties complete the disbursement agreement.

In rare occasions, licensors may also receive invoices from iXP Connect to cover their portion of iXP Connect service fee. In most cases, initial invoicing amount covers iXP Connect's service fee for the licensor (and our fee will be deducted at Escrow disbursement). 

Bank Account Information

Dynamic Task List will request licensors to enter their bank account details during the licensing process.

We will need this information so our Escrow Service can accurately disburse the collected funds.

Please check your account details including;

- bank name

- bank address

- routing number

- account number

- SWIFT code (mostly used for international wiring)

In some countries, banks do not have routing numbers, but they use the branch code and address. Please provide the information to iXP Connect.  

The bank account information will be provided to the Escrow Service by iXP Connect.  Our escrow service is provided by Vo Law, P.A.,  97 Orange Street, St. Augustine, FL 32080.

IXP Connect (ixpconnect.com) is an innovative online licensing platform that connects intellectual property, properties, trade secret, intangible assets. We assist our clients' business growth and accelerate their research and development via IXP's SaaS platform, making IXP Connect the simplest way to license patents and other intangible assets.

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Copyright © 2023

iXP Connect LLC

All rights reserved.

309 Tavistock Drive,

St. Augustine, FL 32095 U.S.A.

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