Complex banking product for companies offering deferred payment terms

Factoring is a contract between a client and a financial institution, according to which the Supplier will assign to the Factor receivables arising as a result of the sale of goods or services by the Supplier to its counterparties/buyers with whom deferred payment has been agreed. Against the assigned receivables, the Factor performs at least two of the following services:

Types of factoring

No credit coverage is applicable  in case of non-payment by the Buyer and the Factor has the right to recourse an overdue receivable back to the Client if the payment on it is not performed within 60 days after the due date of the invoice
Avalable credit coverage by approved insurer, upon wchich in case of non-payment the invoice on maturity by the Buyer, the Factor will pay the Client 90 days after its original maturity.

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