Factoring Services

Factoring at CompassBank is an attractive solution to improve financial liquidity of companies and to increase security of transactions connected with sale of goods or services by the Customer.

Factoring at CompassBank is based on transparent principles and individual approach to each Customer.

Factoring is a financial activity whereby receivables due from buyers of goods or services are purchased and financed as well as a number of additional services are provided to Customers.

The most important of them include:

Receivables accounting and settlement

Monitoring the timeliness of payments.

Receivables collection.

Taking over a risk of the counterparty's payment default (at non-recourse factoring transactions).

Providing the factoring settlements reporting system with the electronic data interchange module.

Factoring's clue is a release of funds frozen in receivables. The company gains flexible (adequate to actual sales) and quick financing thanks to prior conversion of receivables to funds, which may be used for any purpose. Cooperation between the Customer and the Bank in a factoring area is proceeded under a factoring agreement signed with the Bank.