- Factoring transaction starts firstly by receiving "required documents for application" from seller by factoring company in order to determine creditability of buyer and seller.
- Factoring company makes report about its customer and debtor in the light of these information and send offer of payable net amount, conditions of general factoring agreement to be signed to the customer.
- General factoring agreement is signed in the frame of the treaty to be concluded with the customer and businesses are started by transferal of receivables of seller to the factoring company.
Transferal of Receivables
- Customer transfers its receivables to the factoring company. Receivable Notification Form is filled.
- Guarantees of transferred receivables (promissory note, check, etc.) are transferred from the customer to the factoring company with delivery report.
- It is inspected whether receivables are composed of real commercial trading or not and invoices are provided by the customer.
- Factoring company buys the receivables under issued factoring agreement.
- Factoring company makes the payment, complying with the current economical conditions against transferred receivables to the seller firm in compliance with payment instruction of the seller firm.
- Collection From Buyer;
- Factoring company undertakes the collection of your receivables, composed as a result of your time sales.
- Records and pursuit of your receivables are performed by the factoring company.
- Invoice is issued for the expenses such as factoring charge, commission, etc., accrued by the factoring company. This invoice may be displayed as financing expenses.
- Factoring company sends monthly extract and reports, displaying the situation of receivables to the customer.
As it is seen, factoring transaction undertakes financing transactions and collection services, costing highly expensive for managerial staff of your enterprise and provides facilities, enabling the growth of your enterprise.
You will always be pleased as you prefer BASER Factoring...
|
|
