Supplier Finance Program	3 Months Ended
Mar. 31, 2024
Payables and Accruals [Abstract]
Supplier Finance Program	Note 6. Supplier Finance Program Tecnoglass has established payment terms to suppliers for the purchase of goods and services, which normally range between 30 and 60 days. In the normal course of business, suppliers may require liquidity and manage, through third parties, the advanced payment of invoices. The Company allows its suppliers the option to payments in advance of an invoice due date, through a third-party finance provider or intermediary, with the purpose of allowing suppliers to obtain the required liquidity. For these purposes, suppliers present to Tecnoglass the third-party finance provider or intermediary with whom they will carry out the finance program and establish an agreement, through which the invoices will be paid by the third-party finance provider or intermediary once Tecnoglass has confirmed the invoices as valid. Once the Company confirms the invoices are valid, the third-party finance provider or intermediary proceeds with the payment to the supplier. Subsequently, Tecnoglass pays the invoices for goods or services to the third-party finance provider or intermediary selected by the supplier. Payment times do not vary from those initially agreed with the supplier, as stated in the invoices factored by the supplier (i.e. between 30 and 60 days). Pursuant to the supplier finance programs, the Company has not been required to pledge any assets as security nor to provide any guarantee to third-party finance provider or intermediary. As of March 31, 2024, the obligations outstanding related to the supplier finance program amounted to $1,190 recorded as current liabilities, compared to $2,722 outstanding as of December 31, 2023; with $898 classified as “Trade accounts payable and accrued expenses”, compared to $2,330, as of December 31, 2023, and $292 classified as “Due to related parties”, compared to $392 as of December 31, 2023.

Supplier Finance Program

3 Months Ended

Mar. 31, 2024

Note 6. Supplier Finance Program

Tecnoglass has established payment terms to suppliers for the purchase of goods and services, which normally range between 30 and 60 days. In the normal course of business, suppliers may require liquidity and manage, through third parties, the advanced payment of invoices. The Company allows its suppliers the option to payments in advance of an invoice due date, through a third-party finance provider or intermediary, with the purpose of allowing suppliers to obtain the required liquidity. For these purposes, suppliers present to Tecnoglass the third-party finance provider or intermediary with whom they will carry out the finance program and establish an agreement, through which the invoices will be paid by the third-party finance provider or intermediary once Tecnoglass has confirmed the invoices as valid. Once the Company confirms the invoices are valid, the third-party finance provider or intermediary proceeds with the payment to the supplier. Subsequently, Tecnoglass pays the invoices for goods or services to the third-party finance provider or intermediary selected by the supplier. Payment times do not vary from those initially agreed with the supplier, as stated in the invoices factored by the supplier (i.e. between 30 and 60 days). Pursuant to the supplier finance programs, the Company has not been required to pledge any assets as security nor to provide any guarantee to third-party finance provider or intermediary.

As of March 31, 2024, the obligations outstanding related to the supplier finance program amounted to $1,190 recorded as current liabilities, compared to $2,722 outstanding as of December 31, 2023; with $898 classified as “Trade accounts payable and accrued expenses”, compared to $2,330, as of December 31, 2023, and $292 classified as “Due to related parties”, compared to $392 as of December 31, 2023.

Tecnoglass Inc. 10-Q