Factoring is a service of Banca Intesa that allows You a unique opportunity to collect your claims for the goods sold or service rendered before they become due.The Bank redeems short–term claims You have from Your Buyers / Debtors based on documents that prove those claims (invoices, delivery notes, interim or similar).
The procedure is very simple. A factoring contract is made, according to which You sell the Bank Your Debtors’ claims, which resulted from goods delivery and / or services rendered and receive the money immediately.
You may realize factoring service in two ways:
There are a number of advantages to factoring service:
By advanced payment of a contracted amount of funds in a very short period, Your company’s liquidity is significantly improved, which enables You to settle Your obligations to the suppliers earlier and thus use the possible discounts they offer.
By turning short–term claims into liquid funds, factoring as a way of financing does not burden Your company’s balance.
3. Claims management:
Considering that the bank takes upon itself to perform all activities connected with book–keeping entries and tracking the due date of invoices, You considerably save in time and expenses.
4. Claims collection:
Debtors / Buyers are a lot more disciplined when settling their obligations to the claims of a strong bank.
Through claims transfer, the collection risk reduces and liquidity increases, which enables You to offer Your buyers longer payment deadlines and thus increase Your sale.
For further information, please, contact your Client Manager or call:
011/201-1629 or 011/201-1621