My1Factoring
What is Factoring?
- Invoice / sales ledgering
- Debt collection
- Risk protection
- Financing
Who can use it?
Factoring benefits
- Professional collection services in USA, Canada and in more than 80 countries
- Protection against bad debts (up to 100%)
- Financing (up to 90% of invoice value available immediately)
- Buyer’s credit assessment (on regular basis)
When does factoring apply better?
- Sales on open account terms
- Continuous business relationship
- Clear sales title / enforceable receivables
- Clean / clear performance of the seller
- No counter-trade
- Portfolio spread over a number of buyers
The Pricing
The pricing for factoring has three major components:
- Fee to set up the factoring package
- Charge applied to the invoice value for the services rendered other than financing
- Discounting or interest levied for the financing (applicable to the funds-in-use on a daily balance). This will depend on the interest rates for different currencies
The price may also be conceived as an ‘all-in’ charge
Factoring around the World
There are more than 3,500 factoring companies registered in more than 80 countries worldwide. There are several international and national factoring associations promoting this service and its variations in the different national markets and internationally, in order to assure a global standard vision for this industry.
World Opportunites Fund sees factoring as a highly-specialized financing tool that is complementary to its more traditional trade service products, and vital to the growth and development of small and medium sized businesses. Factoring provides exporters a risk mitigation alternative to letters of credit and with it the opportunity to grow their business. World Opportunites Fund sees factoring as an important tool for the growth of international trade, especially in developing countries exporting to the more developed countries.
One major competitive advantage for YOUR business is to offer credit terms to YOUR customers; however this brings about a number of issues which can divert your attention away form your business core competence such as:
- trouble collecting your debts at maturity
- stretched cash flow situation
- bad debts
- foreign customers with different cultures and speaking other languages
- different jurisdictions
Our specially designed package of factoring services provides you with the comfort and security to deal on credit terms for both domestic and international trade. At the same time you have the option of a factoring package that will help you satisfy your individual commercial needs.
My1factoring allows you to unlock the cash from your credit sales immediately after the invoices are assigned to World Opportunites Fund or at any future time according to your business needs, so as to save on your interest costs. You may cash up to 90% of the approved invoices.
You may enjoy risk-free credit terms by using our option of credit risk protection, which means that once you have performed your obligations under the purchase contract, you are secured from any bad debts arising from the non payment by your customer.
You may be released from the stressful and time consuming process of debt collection by outsourcing these activities to our professional staff. We will ensure that effective and efficient collection process is put in place ensuring no harm comes to your trading relationship with your customers.
This service becomes more effective in case you are trading with foreign customers by overcoming the time zones and language problems, as we will provide you a debt collection option in the country of your customer through our correspondents.
My1factoring is especially designed to secure your debts and improve your cash flow, thus offering you a competitive edge for your sales.
If you are trading on open account terms, you can assign the relevant receivables to World Opportunites Fund and benefit from the following:
- Financing, which means that you can cash your invoices up to 90% of the approved invoice value
- Risk protection, which means that you are secured from bad debts once you have performed within the terms of the purchase contract.
- Debt collection, which means that you can focus more on your business development rather than chasing your customers for payments.
My1factoring is specially designed to secure your debts and improve your cash flow offering you a competitive edge in the foreign markets. If you are trading on open account terms, you can assign their receivables to Wolrd Opportunities Fund and benefit from the following:
- Financing, which means that you can cash your invoices up to 90% of the approved invoice value.
- Risk protection, up to 100%, which means that you are secured from bad debts once you have performed under the purchase contract.
- Debt collection, which means that you can focus more on your business development rather than chasing your customers for payments. You will benefit from the fact that the debt collection would be done professionally by our correspondents in the country of your buyer. Our wide network of correspondents will help you overcome any time zone and language problems that you would normally face during debt collection.
My1factoring is designed to improve your purchasing power vis-à-vis either domestic or foreign suppliers by ensuring that payments to these are undertaken promptly. If you are purchasing on open account terms, you can benefit from the following:
- You can take advantage of early payment discounts, as prompt payment would be made to suppliers immediately upon confirmation of your liability to pay us, usually through a promissory note.
- You can also take advantage of extended payment terms, wherein we would pay on due date of the invoice, provided we have confirmation of your liability to pay us, usually through a promissory note.
We are able to offer import factoring services to our correspondents, only on a case by case basis, for a wide range of markets, including but not limited to North and South America, Europe and Middle East.
