Factoring

Factoring is a type of banking service for the financing of economic entities-suppliers against the assignment by them to the bank - the financial agent of the right to receive payment on payment claims accepted by the payers but not paid by them for the goods supplied, work performed or services rendered, without recourse.

For manufacturing and service companies with a constant cash flow:


Factoring amount - In the amount of accounts receivable

Factoring term - up to 90 days

Discount - not less than 5%

The purpose of factoring:

  • For the purchase of receivables

Documents to be provided:

  • application;

  • business plan;

  • income statement;

  • contracts of purchase and sale, performance of work and provision of services, drawn up in accordance with the established procedure and signed by the payer;

  • documents confirming the issuance of material values, the performance of work and the provision of services.

Factoring collateral:

  • collateral or securities

  • surety of third parties

  • pledge of cash deposits

  • other types of security provided by law.


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