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Asset Factoring

Asset Factoring

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  • Asset Factoring is a package of financial services for management of short-term receivables from clients’ counterparts. This type of financing is offered for selected clients and their suppliers and may include:
  • Advance financing, related to receivables purchased based on invoices;
  • Collection of the receivables and assumption of the risk of non-payment;
  • Transfer of the receivables collected to the client
  • A flexible instrument for ensuring better competitiveness;
  • An easy mode of financing without requirement for additional security;
  • A proven method of increasing company liquidity and optimization of cash flows;
  • A trouble-free means for operating in a deferred payment environment;
  • A secure way for cutting the administrative costs
  • Currency: BGN, EUR, USD;
  • Amount of the advance payment of the receivables purchased: up to 90% of the value of each purchased invoice with VAT inclusive;
  • Payment term on the invoices: receivables with maturity of up to 90 days can be financed.
  • The seller (supplier) executes a factoring contract with International Asset Bank AD;
  • The seller advises his counterparts (buyers/consignees) of the transfer of his receivables to the Bank, attaching the respective instructions for payment to account;
  • The counterparts confirm their consent to make their payments under the terms of the factoring deal, to the designated account at the Bank;
  • The seller delivers goods/services and issues invoices with deferred payment and forwards copies thereof, accompanied by delivery documents, to the Bank.
  • International Asset Bank AD transfers in advance an agreed percentage of the face value of the receivables transferred under the respective invoices;
  • At the same time the Bank assumes the collection and administration of the receivables, resulting from the invoices transferred and then pays the full margin between the nominal value and the advance financing, the interest, fees, commissions, deductions, made by the payer and owed by the supplier to International Asset Bank AD

International Asset Bank AD provides factoring services at the most competitive terms, taking into account the specifics of the client and his counterparts and the specifics of the economic sector.

For more information please complete the feedback form or call 0800 12 422.

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