A promissory note is a written promise to pay a fixed sum at a future date. In France, the most common business variant is the LCR (lettre de change relevé), a dematerialized bill of exchange where the supplier draws on the buyer for a payment due at a set maturity, processed through the banking system.
These deferred payment instruments are everywhere in French B2B, especially where supplier credit is the norm. They let a buyer pay at 30, 60, or 90 days while giving the supplier a tradable claim. The catch for finance is tracking: each LCR carries a maturity date, a counterparty, and an amount that must clear the bank on time and reconcile back to the original invoice.
Managed in spreadsheets, this is where payments get lost: a maturity missed, an LCR that clears for the wrong amount, or a settlement that never gets matched to its invoice.
Phacet brings control to these flows. The agent that reconciles bank transactions and detects unmatched flows ties each LCR settlement back to its invoice, the agent that reconciles payment gateway, bank, and ERP flows aligns deferred settlements across systems, and the agent that detects fake IBAN fraud guards the payment details. Every match is traceable through a native audit trail.
The LCR defers the payment. Phacet makes sure it clears correctly and reconciles cleanly, with nothing lost between maturity and the ledger.
