About Factoring

What is factoring
- purchase
- management
- funding
- encashment
- risk assumption (securing) of short term (usually 90 days) claims occurring based on goods and services provision
Criteria for factoring
- claims must be assignable and recoverable
- minimum annual turnover through factoring = 10 million CZK
- running deliveries to permanent buyers
- company with at least one year history
- continuous claim assigning
- payment conditions – to an open account
Procedures for factoring agreements
- preliminary factoring request application completion
- indicative business conditions offers
- binding factoring services request application completion based on negotiations with Factoring KB
- provision of necessary documentation
- Factoring KB evaluates provided documentation
- factoring agreement conclusion