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About Premier Global F.
About Internat. Factoring
Inter. Project Financing
In international factoring there are usually two factors. The export factor looks at financing the exporter and sales administration (presenting invoices at the right time, collecting payments being the key tasks). The impot factor is interested in evaluating the buyer, collecting the money on time at the same time ensuring that he is protected against default. International factoring encompasses all the four services, that is, pre-payments, sales ledger administration, credit protection and collection.
STEP GUIDE TO INTERNATIONAL FACTORING:
1. The exporter contacts PREMIER GLOBAL FINANCIAL.
2. PREMIER GLOBAL FINANCIAL makes an analysis about the export project. If the project is viable then we will be willing to sign an international factoring agreement with the exporter which is applying.
3. PREMIER GLOBAL FINANCIAL gets an export factor in the country of the exporter which is interested in the project. This EXPORT FACTOR becomes responsible with the exporter for all aspects of the international factoring operation.
4. PREMIER GLOBAL FINANCIAL gets an import factor in the country where goods are to be shipped which is interested in the operation.
5. The import factor investigates the credit standing of the buyer (the importer) of the exporter's goods and establishes lines of credit. This allows the buyer to place an order on open account terms without opening letters of credit.
6. Now the exporter is able to ship, Once the goods have been shipped, the export factor may advance up to 80% of the invoice value to the exporter.
7. Once the sale has taken place, the import factor collects the full invoice value at maturity and is responsible for the swift transmission of funds to the export factor who then pays the exporter the outstanding balance (20%).
HOW DOES INTERNATIONAL FACTORING WORK?
A Globalized world needs
8. If after 90 days past due date an approved invoice remains unpaid, the import factor will pay 100% of the invoice value under guarantee.
Not only is each stage designed to ensure risk-free export sales, it lets the exporter offer more attractive terms to overseas customers. Both the exporter and the customer also benefit by spending less time and money on administration and documentation.
Once the exporter gets a "open account" with the export factor, the operation will be more easy each time.