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The factoring percentages they charge you generally vary depending on the amount of receivables you hold. Most of the additional charges are the remuneration of the work of the factoring companies for processing your invoices and collecting receivables from your customers and debtors. Some companies offer additional costs to cover risk and overheads. Other factors offer deals with no minimum, which usually cost more overall.


You should therefore check with your factor to understand the terms bolivia whatsapp number database of the contract. Some factoring companies require a commitment for a specific period of time (usually one year). If you do not meet the required duration by terminating the contract early, you will be subject to penalties. Quality of service Quality of service is a crucial criterion that you should not overlook. This is because factoring is a buyer-centric task. Entrusting your receivables to a factor could affect your customer relationship.


Therefore, it is important that a factor like Bibby Factor is easy to reach and provides results quickly. You should choose a factoring company that can provide results within 24 hours of confirmation. The factor should be able to provide your business with cash inflows as soon as you need them. Factoring contract with recourse or without recourse There are two broad categories: recourse and non-recourse. Recourse factoring makes you responsible for handling all outstanding receivables.