The factoring service is provided by Pekao Faktoring to entities operating in the market for at least 24 months. Pekao Faktoring grants factoring limits to companies regardless of the organizational and legal form in which they operate.
The approval of a factoring limit begins with a contact with a Pekao Faktoring Account Manager, who, in conjunction with the client, helps to prepare the transaction optimally. Prior to signing a factoring agreement, it is necessary to produce the required documents. However, the entire process is based on basic data that any client can easily gain access to and lasts up to a few days. This means that gaining access to factoring financing is amazingly simple and does not imply the preparation of an elaborate form or documents.
Among other things, the application should be submitted with financial statements and information on the contractors designated for factoring, along with data on the history of cooperation with them. Prior to the start of financing, the client may also be asked for certificates confirming the absence of any outstanding debts to the Social Insurance Institution and the Tax Office.
The subject of factoring can be unmatured commercial receivables, arising from the sale of goods or services. They must be undisputed, cannot be subject to collateral and not burdened by third-party rights. Regardless of the business object, factoring helps maintain liquidity and minimizes the risk of gridlock.
Yes, there is an obligation to transfer the entire turnover with regard to the factored contractor. However, the decision as to the need to finance a particular invoice is at the decision of the factoree.
There are no restrictions on the minimum as well as the maximum amount of an invoice.
The essence of the factoring service is the assignment of receivables due from factoring counterparties. Pekao Faktoring will inform the contractor of the assignment or ask for consent to the assignment in the event of a contractual restriction of such a right by the buyer.
You can submit new contractors during the term of the agreement, as well as make changes to the limits for existing contractors, without the need to annex the factoring agreement.
The essence of factoring is to back the transaction on a portfolio of fixed buyers, characterized by regular payments to the customer, so the creditworthiness of the business has a limited impact on the possibility of entering into a factoring agreement.
The recourse factoring is a type of factoring where the risk of the contractor’s insolvency is on the factoree. If the contractor has not paid the amount due, the factoree will be obliged to return the advance payment paid, i.e. the funds it received as payment for a deferred invoice. In the case of non-recourse factoring, the risk of insolvency of the contractors under the factoring agreement is covered by the factor.
Factoring services are primarily intended for those companies that commonly use deferred payment terms when dealing with their contractors. Thanks to the factoring agreement, the entity gains funds for the ongoing expenses before the payment date indicated in the invoice, therefore improving its liquidity.
Every customer of Pekao Faktoring has dedicated employee to support the current servicing.