The basis of any cooperation is a framework agreement. The contract specifies the type of factoring you want to use (see below), the subject of your activity, the expected amount of receivables, the list of potential debtors to whom the transactions will apply and the specification of the required services related to debt collection. After the contract is drafted, you issue invoices and deliver the goods/services to customers according to your usual customs.
After issuing an invoice and delivering the goods, you will give us the invoice and proof of delivery, or other documents on the performance of the delivery, and then you will immediately collect up to 90% of the receivable. During this step, you will inform us about the status of things, while the administrator specifically assigned to you immediately verifies the financial health of your customer and approves the transaction with subsequent information on the amount of the factoring commission (depending on the amount of the receivable, risk and type of debtor). Depending to the agreement, your customer may or may not be informed about the assignment of the receivable to the factoring company. After the debtor has settled the receivable, you will be informed of the payment and receive the remaining value of the receivable reduced by the factoring commission. Throughout the process, you will be in contact with the assigned administrator, who will provide information about communication with the debtor and his payment at any time. This will all take place very quickly, efficiently and with fully professional service.