Local government factoring is a financial service, whereby the Bank provides suppliers of local authorities with a certain source of financing merchant credit without the need to analyse their financial standing. Under a factoring agreement signed with the Client the Bank purchases and finances 100% of the nominal value of the Customer's receivables from a local authority and assumes the risk of payment delay.
Our offer for the Customers:
- financing acquired receivables,
- receivables accounting and settlement,
- taking over a risk of the local authorities' payment delay,
- professional system to report the status of the factoring settlements together with the electronic data interchange module.
- 24/7 access to the WEB Faktor system, permitting on-line execution of factoring transactions as well as control of the status of settlements without incurring additional expenses,
- no requirement to hold a public tender (concerning financial services). The Bank will finance existing liabilities.
