PRODUCT INFORMATION
If you work with a balance sheet, you can assign a large volume of receivables to the bank in a one-off transaction, ideally towards the end of the reporting period.
Method of purchase
- Receivables are sold to the bank by means of an assignment for consideration.
- Without recourse (no-recourse factoring) – the bank assumes the risk of the debtor’s insolvency or unwillingness to pay and insures the receivables with a credit insurance company with a deductible of only 10%
- The bank buys 100% of the amount of receivables as specified in the invoice, incl. VAT; it provides clients with a contractual advance payment, which usually amounts to 90% of the nominal value; the remaining part is credited to the client’s account immediately upon the payment being obtained from the debtor
Further benefits:
- You minimize the risk of exchange rate movements for receivables in foreign currencies
- No reservation fee is charged on the unused amount
- The transfer from the bank’s internal accounts to your current account is free of charge
- You will lower the cost of payments – no fees are charged for incoming payments
- The bank assumes the risk of non-payment
Contact details of our specialists:
Jan Novotný
M: 725 707 726, T: 234 401 758, E: jan.novotny@rb.cz
Jana Tobrmanová
M: 734 518 340, T: 234 401 472, E: jana.tobrmanova@rb.cz
Kateřina Reicheltová
M: 603 808 248, T: 234 401 989, E: katerina.reicheltova@rb.cz