Homepage Information About Factoring

About Factoring

1. What is factoring

  • purchase
  • management
  • funding
  • collection
  • cedit cover (risk assumption) of short term (usually 90 days) accounts receivable arising from supply of goods or services

2. Criteria for factoring

  • accounts receivable must be assignable and collectable
  • minimum annual turnover through factoring = 10 million CZK
  • continuous deliveries to regular buyers
  • company with at least one year history
  • continuous accounts receivable assigning
  • payment conditions – to an open account

3. Procedures for factoring agreements

  • presentation of preliminary factoring application form
  • offer of indicative business terms
  • presentation of binding application form for factoring based on negotiations with Factoring KB
  • presentation of necessary documentation
  • credit analysis and assesment of business case by Factoring KB
  • conclusion of factoring agreement

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