When you’re selling goods in a foreign country, who can you trust? Who can you depend on to guarantee your receivables?
Export factoring provides 100% guarantee, receivable and collection management and financing services on open account sales.
Generally in trading, it is natural for sellers to prefer to make sales cash or with guaranteed payments and for buyers to prefer to buy on creditor without giving any guarantees at all. In many situations existing methods (letter of credit, cash against documents, cash against goods) do not meet the needs of both parties, which makes sales and purchases difficult. Factoring is the only method that fulfills the wishes of both sides, especially in international transactions.
With export factoring you get,
When assessing a purchase order from a potential new customer abroad, you need financial information about the buyer and about their market position and reputation. When entering new markets, you need a way to minimize your risks. By offering new customers the ability to buy on an open account basis, you secure an important advantage over competitors who insist on bank-guaranteed sales.
Receivable and Collection Management;
By not having to maintain records of your receivables and collections you will save both time and money.
By satisfying your own financing requirements, you can secure important competitive advantages by offering customers credit terms or making sales on credit in newly-entered markets.
Fiba Factoring stands by you on open account imports. When your foreign suppliers demand payment guarantees, by Fiba Factoring’s international relations and financial strength, a credit limit can be assigned to you and the transaction will be finalized through the factoring company which the supplier is working with.