Municipal factoring is a product for suppliers of local authorities who are provided by the Bank with a reliable source of merchant credit financing without the need to examine their economic and financial standing. Under the factoring agreement signed with the customer the Bank acquires and finances 100% of receivables due to your company by local authorities and takes over the risk of such receivables' repayment delay.
Benefits for the Customer:
- Funds are received before the receivables become due and payable.
- The Bank takes over the risk of receivables payment default
- The financing does not require examination of your company's financial standing.
- 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. (WEB Faktor).
Benefits for local authorities:
- No public tender required (concerning financial services). The Bank finances existing liabilities.
- Possibility of repayment after the receivables payment date according to the repayment schedule accepted by the Bank.