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Factoring, in one form or another, has been around for thousands of years. Factoring releases the funds locked up in outstanding sales invoices, is a sure-fire way to turn your outstanding debtors into cash. Factoring is frequently used by businesses to improve cash flow. It can also be used to decrease administration expenses.

Questions To Ask When Considering Factoring

What is factoring? It is an arrangement between a factoring company and a business whereby the factor provides between 75% and 90% cash available against the unpaid invoices of a business.  It also relieves the burden of routine tasks such as … Continue reading

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Factoring Financial Package For Growing Businesses

Domestic Factoring This frees the funds locked up in sales invoices.  A client can typically raise up to 85% of the value of its unpaid invoices within 48 hours.  The balance is available, less a small administration charge, when the … Continue reading

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Types of Invoice Finance

The main services are described below using ‘traditional’ factoring industry terminology which the majority of factors still use, and in any event, will all recognise. It should be noted that services may differ slightly between factors  Services provided by factors … Continue reading

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Factoring Survey

Should the business appear suitable, a Company representative will arrange a meeting at the prospective client’s premises to briefly explain the service and probably give an indication of cost. If both parties are agreeable, the representative will then arrange for … Continue reading

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Client Suitability for Factoring

Client Suitability: Bankers, accountants, or other financial advisors will usually introduce a prospective client. There are also a small number of specialist independent agents who solely concentrate on introducing clients to Factors on a commission basis. The Company will pay … Continue reading

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Advantages of Factoring

In addition to the key benefit of accelerated cash flow, there are several other advantages to Factoring. Customer relations can be improved on the basis the responsibility for collection rests with the Factor, thereby relieving the client from the need … Continue reading

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There are two basic types of Factoring in use today

There are two basic types of Factoring in use today; Full Factoring & Confidential Invoice Discounting, both of which are governed by a written agreement. The agreement typically lasts for 12 months and automatically rolls over, subject to review. Termination … Continue reading

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Factoring and Invoice Discounting are becoming an increasingly important

“Factoring and Invoice Discounting are becoming an increasingly important and flexible means of funding for growing businesses”. TIM MELVILLE-ROSS, Former Director General of the Institute of Directors

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Factoring and Invoice Discounting could usefully provide business

“Factoring and Invoice Discounting could usefully provide business with the opportunity to grow. The contribution Factoring can make is recognised and increasingly accepted as part of the financing menu”. EDDIE GEORGE, Governor of the Bank of England

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Small companies could help themselves by making more use of Factoring

“Small companies could help themselves by making more use of Factoring and Invoice Discounting. These products have the advantage of being linked directly to the volume of sales, so that the available financing grows as the business grows”. HOWARD DAVIES, … Continue reading

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