Non-recourse factoring with client's policy

About the product

Non-recourse factoring with Client's policy is a solution within  which apart from financing and managing receivables the Bank takes over the counterparty's insolvency risk (both domestic and foreign counterparty) within the area covered by the policy selected by your company and upon the principles specified in the factoring agreement. Settlements under the factoring agreement can be conducted both in PLN and in foreign currencies.

If you select this product, you will receive financing of purchased receivables within the granted limit and the Bank will manage receivables from the day of their purchasing by the Bank until the day of their repayment by the counterparty or payout of the compensation by the insurer.

Benefits:

  • Access to financing on the basis of a receivables insurance agreement held by the customer.
  • No additional commission charged by the Bank for takeover of the customer's insolvency risk (insurance premium is paid only to the insurer).
  • Financing possible to be obtained on the basis of the list of receivables submitted electronically via the professional WEB Faktor application provided by the Bank and possibility of controlling the status of factoring settlements at any moment.
  • Adjusting of the parameters of a transaction to the terms of the policy held by your company.
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Channels of access to product information

Internet

Wherever you are, with internet access, you can check account balances and history on a 7/24 basis, also viewing information concerning other products i.e.: cards, loans, guarantees and letters of credit, standing orders or term deposits.
At any time, in a safe and convenient way, using a functional internet application WEB Faktor, you may register invoices, check factoring settlements' status and generate reports showing status of given receivables.

Corporate branch

Get detailed information about Bank Millennium products by contacting Advisors in the Corporate Banking network.

Contact with Advisor


By phone

Our Consultants will provide you with detailed information and will carry out your instructions. 

801 31 31 31
line available for fixed-line and mobile calls

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