Erste Factoring

Factoring is a package of services included:

  • receivables management (administration, accounting, collection)
  • credit risk cover against non-payment and customer‘s financial inability (without recourse factoring)
  • financing of existing receivables

Advantages of factoring:

  • speed-up and stabilization of cashflow
  • advance payments from assigned receivables up to 90%
  • well-controlled settlement of customer's invoices
  • protection against customer insolvency – receivables insurance up to 100% (export factoring)
  • management and collection of receivables
  • reduction of labour and costs relating to receivables administration and recovery, automated system of reminders
  • improvement of customers payment morality
  • eFactoring – internet utility for factoring business monitoring
  • monitoring of customers – early warning system in case of negative information about subject
  • financing in invoice currencies to more than 50 countries worldwide
  • electronical assignment of receivables
  • off balance sheet financing which does not increases liabilities
  • opportunity to offer better payment terms to buyers

 

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