Factoring

Factoring in brief

It's simple: when you want to protect yourself from the risk of default by your partners, turn to factoring. We can help you collect your invoices ahead of schedule, which will also save you another headache: cash.

Benefits

• m You cash in your bills faster, turning a late payment into immediate cash, which helps you pay current expenses.
• m Pay suppliers faster and get discounts from them
• m You get faster receipts - you have lower financing costs
• m You have higher sales, you have higher receivables, so you get higher financing
• m You have non-payment risk insurance (non-recourse factoring), i.e. you eliminate losses from uncollected receivables or bad debt customers
• m Because we manage your claims, you save on administrative and staff costs
• m Increase sales by offering your customers longer payment terms
• m All this can mean an advantage over your competitors 

Good to know

• It is not necessary to justify the destination of the money
• You don't need any additional warranties
• Self-reimbursable facility
• Automatic (digital) financing process through BT Web Factoring

Conditions for granting

In order to receive credit, you must have a business relationship with that partner, based on a contract or an order. In addition, make sure your company does not have:

• m Ban on issuing bank cheques
• m Delinquencies on loans in the Credit Risk Centre
• m Active entries in the Insolvency Proceedings Bulletin

What documents you need

• Tax invoice together with the documents established in the relationship with your partner
• Copy of the latest financial statements
• Tax attestation certificate
• Legal/constitutional approval of the contracting of the factoring facility and the persons empowered to engage the company

Example

Your company has a recurring relationship with a customer and you issue invoices to the customer with a 60-day payment term.

Under the factoring contract with us, after delivery and receipt of the goods, you can collect up to 100% of the value of an invoice. When the invoice is due, your partner pays the invoice into the factoring collector account and the financing is extinguished and we transfer the difference (if any) to your current account.

We also manage and collect your bills amicably. In addition, we cover the risk of non-collection (non-recourse factoring). What does this mean?

If your customer goes into insolvency or prolonged default and invoices are not affected by the commercial dispute, after a contractually agreed period, you recover the insured percentage.

With professionalism and care for your business relationships, through factoring we help you grow your business healthily.