STEP 1: Initial interview and evaluation of the possibility of signing a factoring agreement.
Presentation of the necessary documentation on the business run by the invoice owner, contractors-debtors, receivables sold and submission of an application, which will specify: the period for which the contract is to be concluded and what will be the subject of it (i.e. data on the invoice owner, goods / services or planned the number of invoices). This will allow the factor to assess the risk of debt purchase, debt servicing costs and potential profits.
DOCUMENTATION REQUIRED FOR FACTORING AGREEMENT.
1. 1. Concerning your business.
2. 2. Concerning the receivables to be transferred to the factor.
3. 3. Concerning debtors.
After submitting the application and providing the necessary documentation, the factoring company analyzes the situation of the invoice owner and his contractors-debtors. This process, as well as the analysis of a loan application at a bank, consists of two stages:
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