Step by Step Export Factoring | Tfc Trade Finance
TR - EN - DE

Step by Step Export Factoring

Step by Step Export Factoring

f1
f2
f3
f4
f5

STEP BY STEP EXPORT FACTORING

1-EXPORT FACTORING

Step 1: Meeting between you and Kredi Finans / TFC representatives and agents, and discussion about your needs and TFC’s availability of export factoring facility.

Step 2: You send limit application form of your customer to TFC.

Step 3: Upon receipt of limit application form, Kredi Finans / TFC provides insurance coverage for your buyer (importer).

Step 4: Following the approval of the insurance company, you get the notification of approved buyers’ limits.

Step 5: You sign the Factoring Agreement with Kredi Finans Faktoring.

Step 6: You send a notification letter to your approved importer to countersign. In this notification letter, you state your factoring agreement and give your payment instructions with TFC’s account number. In addition, you demand a signature authorization list from the importer.

Step 7: Upon receipt of the aforementioned documents and completed transactions, you submit following documents to our group.

· Offer letter: In this letter, you write the invoice amount, name and account number of buyer, invoice and due date and your bank name and account number.

· Invoice: To avoid disputes, invoice has to include TFC’s bank account information notification to the buyer with your stamp and authorized signatures undersigned.

· Buyer Acceptance (delivery note): Buyer Acceptance is the most important document, indicates that the goods are in quantity and quality in order and the invoice is accepted by the buyer. In some cases, if the receipt of buyer acceptance is not possible, the document of inspection from the authorized inspection companies is acceptable.

· Notification letter countersigned by the buyer.

Step 8: After the receipt of all above documents, an advance payment up to 80 % of the invoice amount, less factoring fee, latest in 48 hours due to the document verification and payment transfer proceedings, will be settled to your adviced bank account of the company.

Step 9: The remaining 20 %, less interest will be paid to you once your customer pays the invoice amount in total.

In case of nonpayment at maturity, TFC sends reminders to the buyer. If the collection is not successful, TFC forwards the default file to the credit insurance company with your acknowledgement.

 
web tasarım google seo