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Growing sales
The assessment of Debtors can be done directly by Business Finance otherwise by a correspondent (Import Factor), based in the country of the Debtor. In the latter case, the Import Factor will also be responsible for collection of debts and transfer of funds cashed to Business Finance Business Finance underwrites the credit limits for each Debtor The Client signs the factoring contract and Introductory Letter which is sent to each Debtor to inform of the Client's decision to sell its receivables to Business Finance The Client sells its receivables to Business Finance as they come into existence Each Debtor is notified of the transfer of debts The Debtor channels payments to Business Finance, directly or by Import Factor Business Finance credits the Client with the difference between the amount of receivables collected and the amount advanced (net of commission and agreed interests). |
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