Full Service Factoring
No wish remains unfulfilled
Financing the growth of your company, the risk of bad debts, or managing your export business are relevant topics for you?
Eurofactor Full Service combines these services in one product:
- Financing, normally up to 90 percent of your insured accounts receivable balance.
- 100 percent protection against bad debts. If you wish, your existing credit insurance can be integrated.
- Professional accounts receivable management for your domestic and foreign receivables through our global network.
How does it work?
- We run a credit check on your debtors and establish corresponding limits for them. If you already have credit insurance, we regularly assume your existing debtor limits.
- You issue invoices with a notice of assignment to your debtors and send us invoice copies.
- We continuously purchase the invoices within the approved debtor limits and normally pay 90 percent of the gross invoice amount to you immediately. 10 percent is retained as security in case of possible invoice deductions.
- Your debtors regularly receive payment reminders from us after the invoices become due. The dunning process and text can be specified by you.
- The retention is paid out to you when the debtor pays, or in case of bad debts, no later than 120 days after the due date.
- Whenever transactions occur on your account, we will send you the payment report daily after the day-end close. This list shows the payments received from your debtors and applied on that day.
- In addition, you receive a balance report every day. It provides information regarding important details, including a list of open items, financing, and the payout amount available on that day.
With our online information solution EOL, you always have a direct, detailed overview of your debtor accounts via the internet.
Our sales manager will be happy to provide you with more detailed advice. If you wish to do so, you can also request directly a non-binding quote.