Factoring “Non-Recourse Finance”
Do you have below concerns when you us Open Accounts (OA) to settle export business with foreign importers?
Factoring, a trade finance product by which Account Receivables generated from current or future sales contracts are sold to a Factor, who offers service in trade finance, sales ledger account management, account receivables collection, credit risk control, and bad debt management.
Benefits to exporters
In order to improve efficiency, we suggest exporters to provide below basic information during the negotiation of sales contract. OTFC may quote our price and arrange potential factor
The exporter may receive discounted proceeds in advance (after deducting commission and other relevant charges) after presentation of stipulated documents, having no liability regarding the importers’ possible default on payment.