Factoring takes full advantage of the existing payment handling in our View21 platform. It is made to offer the factor a highly automated processing of payment transactions, well suited to handle high volumes.
We offer three types of Factoring:
- Administrative Factoring: The factor performs the process of reminding and collection (dunning). The factor pays creditor when the debtor pays and subtracts his fees and commissions. Disputable and non-collectable claims are rejected by the factor versus the creditor.
- Financial Factoring: The same as Administrative Factoring, with the exception that the factor grants the creditor a loan as a function of the receivable amount. When the debtor pays, the credited amount is subtracted (together with fees and commission) before the final amount (reserve) is credited the creditor. Disputable and non-collectable claims are rejected by the factor versus the creditor, and any credited amount reversed (recourse).
- Portfolio Factoring: The factor purchases the total creditors’ receivables at an agreed price at his own risk. There are some variants of constructions, but mainly the factor takes the most risks, sometimes with exemption of disputes.