Factoring

Terms and Conditions Factoring operations with clients are carried out on the basis of agreements with the branch of the bank, where their main deposit accounts are on demand, which are serviced in the bank system
Maximum amount of factoring Agreement by the parties
Type of service Factoring
Currency of Factory National currency and in foreign currency
Term of Factoring The time period for the execution of a monetary claim by a payer to a financial agent on the basis of the provision of factoring services shall not exceed 90 days.
Discount The difference between the amount transferred by the bank and the amount of the payment claim under the contract is a bank discount. Discount in national currency 5%, in foreign currency 2%
The order of providing factoring Issued in accordance with the established procedure and signed by the payer contract of sale, performance of work and provision of services; documents confirming the release of material assets, the performance of work and the provision of services (freight invoices, copies of powers of attorney, acts of acceptance of work, etc.); list of open accounts by the payer in other banks;
The balance sheet (form No. 1) of the payer for the last reporting period submitted to the relevant state tax inspection, as well as acts of reconciliation for arrears for more than 90 days, a statement of financial results (form No. 2)
Special conditions An obligatory condition for the provision of factoring services is the absence of overdue payables from the payer.
Factoring operations can not be performed by:
requirements for budgetary organizations;
debt obligations of individuals;
obligations of enterprises;
declared insolvent;
unprofitable enterprises;
enterprises that have an illiquid balance;
financing of capital investments;
export consignment contracts;
compensatory and barter transactions;
payment of work in stages or in advance;
contracts of purchase and sale, where the payer has the right to return the products within the time stipulated by the contract, and also subject to the sale of services.

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