ProcurePact

ProcurePact is a procure-to-pay platform empowering SMEs engaged in cross-border trade with instant payments, one-click invoice-backed loans, and business intelligence to keep cash flowing and decisions smart.

Table of Contents

• Features
• Beta (Partially Implemented)
• Tech Stack
• Canister Structure
• Running the Project Locally
• Examples
• Areas of Improvement

Features

Procure-to-pay

Full lifecycle management for vendor agreements, from contract creation, document management, e.g, delivery notes and invoices, to payment for goods and services delivered.

ckUSDT Stablecoin Settlement

Pay for vendor agreements with ckUSDT stablecoin, enabling low-cost cross-border procurement.

Locking ckUSDT in Escrow

On-Delivery agreements lock ckUSDT stablecoins in an escrow account, assuring suppliers of payment once deliveries are made, while protecting buyers if suppliers default.

Invoice-Backed Stablecoin Credit

Convert pending invoices into short-term loans, unlocking instant liquidity without traditional collateral requirements. At the click of a button, get ckUSDT deposited into your wallet.

Buyer-Supplier Relationship Management

Build and manage your network of customers and suppliers. Request new connections and set up vendor agreements seamlessly.

OISY Crypto Wallet

A built-in OISY wallet enables seamless deposits and withdrawals of tokens.

Progressive Web App (PWA)

Our Progressive Web App (PWA) works seamlessly on mobile, desktop, and web, delivering native-like performance across all devices.

Internet Identity Authentication

Secure on-chain authentication with Internet Identity.

Beta (Partially Implemented)

• AI chatbot for real-time business intelligence - ProcureChat
• Tokenization of invoices to NFTs for third-party asset trading

Tech Stack

Backend: Motoko Frontend: React+Vite (PWA)

Canister Structure

ProcurePact_backend (Mainnet Canister id: 6kelr-ciaaa-aaaab-absoa-cai)

Manages users and vendor agreement contracts.

Invoice (Mainnet Canister id: 3742i-7iaaa-aaaab-absqa-cai)

Handles all creation and updating of invoices. The canister also collateralizes invoices.

Credit (Mainnet Canister id: 6eggz-zyaaa-aaaab-abspa-cai)

Issues and collects loans.

Escrow (Mainnet Canister id: 6dhan-uaaaa-aaaab-abspq-cai)

Locks tokens and releases them for vendor agreements with the On-Delivery Payment term.

ProcurePact_frontend (Mainnet Canister id: 6nfnf-pqaaa-aaaab-absoq-cai)

User Interface. Allows multiplatform access to the web app.

Running the Project Locally

⚠️Note: The main branch is for testing and uses an ICRC ledger to deploy a dummy token for local testing. The "mainnet" branch utilizes the third-party ckUSDT ledger with ID cngnf-vqaaa-aaaar-qag4q-cai on the mainnet. This is the deployed branch.

Prerequisites

1. Clone the repository

   git clone https://github.com/DannyVRSE/CLM
   cd CLM

2. Install npm packages

   npm install

3. Deploy On the project root folder:

   • Make deploy script executable: chmod +x local_deploy.sh
   • This script will deploy a dummy ICRC1 token locally to be used for transactions
   • Each new user is allocated some tokens

Examples

Escrow Payment Flow

• Buyer and supplier sign vendor agreement with on-delivery payment terms
• Buyer locks token in escrow account
• Supplier issues delivery note
• If the supplier fails to issue a delivery note, the tokens are returned to the buyer's wallet

Invoice-Backed Loans

• Supplier issues a delivery note and buyer confirms it
• Supplier issues invoice
• Supplier draws credit against pending invoice
• Supplier is given 80% of the invoice value up-front
• When buyer pays the invoice, the supplier gets the 20% remaining value less 3% service charge

Areas of Improvement

• User KYC and verification to add trust between contracting parties
• Credit score and limits, to ensure the creditworthiness of users
• A dispute resolution system for contracts has to be implemented. This will ensure a fair, non-partisan handling of contract disputes