A globalized world
needs global solutions
About Premier Global F.
About Internat. Factoring
Inter. Project Financing
--How long does it take to get funded?
After we review all the requested documents (which takes from two to seven days) we will sign an agreement. Once the agreement is signed we ask you to submit documentation for credit checking your customers and verification of initial invoices that you wish to factor. Upon completion of the credit and verification funding will occur immediately. Usually funding will occur within 24 hours.
--How can I be certain that the factor will treat my customers well?
The factors success is directly related to your success. The last thing the factor wants is for you to lose a customer. Factors are not collection agencies. Reputable factors will not harass your customers for money. Maintaining your customers' goodwill and confidence are extremely important to the factor.
--Do factors verify invoices with my customers?
Invoice verification is an essential, and accepted, part of factoring. Factors verify invoices to ensure their validity and that there are no offsets or issues that may reduce the expected payment. Most factors have developed verification procedures that ensure that the process is completed quickly.
--Which of my customers would be good candidates for accounts receivable factoring?
When you give the factor your customer list, including name, address, phone number and the amount of credit desired for each, the factor will let you know which customers are eligible for funding. Also, anytime you obtain new customers, provide the information to your factoring partner and they will check them out for you.
FREQUENTLY ASKED QUESTIONS
--Letters of Credit (L/C's) will give me all I need. Why do I need factoring?
You will however find that more and more customers are becoming less interested in buying from suppliers that insist on Letter of credit (L/C) terms. There is also considerably more administration required on their part if letters of credit (L/C's) are used. If you want to expand your sales into these markets you must be able to offer more "buyer friendly" terms and that means open account. Factoring can help you offer such terms without reducing your security or affecting your financing.
A Globalized world needs