What is Export Factoring Admin?
This is a service package allowing you to focus on your primary competence, namely to sell your products or services. Let us do the chasing with regard to unpaid invoices, while you carry on conducting your business affairs.
What does Export Factoring Admin offer?
The focus of this service is on Debtor Management. Once we are engaged by you, we will start following up all outstanding invoices to ensure that payments are made on time. Our sophisticated systems will support professional collection efforts implemented in line with the laws and practices of the country in question. Standard procedures include an agreed number of reminder letters, combined with the use of the telephone. Any additional actions will always be agreed with you in advance.
Who can use Export Factoring Admin?
This service can be tailored to fit the requirements of SMEs as well as the larger enterprises, and will be relevant to any producer or trader delivering goods or services on credit terms from 120 to 180 days, to a relatively stable number of corporate buyers. Receivables must result from contracts completely fulfilled by the exporter, thus being unconditional and enforceable.
What are the benefits of Export Factoring Admin?
Should you decide to undertake this service, you will be benefitting from a reduction in costs as a result of outsourcing this task through us. The implementation of professional dunning will also allow a reduction in outstanding periods, and therefore funding costs.
What are the costs of Export Factoring Admin?
Pricing will be based on your annual turnover structure. It will also depend very much on the extent of the services required.
What is the average standard pricing?
The Export Factoring commission, based on gross turnover, would normally be of between 0.3% and 0.5%. There would also be a handling charge of USD 15 per invoice or credit note, together with an annual account maintenance fee of USD 10 per buyer. Other costs would include an application fee, one-off set-up costs, as well as legal collection costs where applicable.
What kind of information is required for a first quotation?
Basic information required would relate to your turnover structure per year and country, as well as details regarding gross turnover (including number of invoices, credit notes and buyers). We would also ask for information regarding average outstanding balances and terms of payment granted, together with an indication of invoice currency.
Please make use of our questionnaire for this purpose