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【知识点】Benefits of factoring(保理的好处)

Benefits of factoring

Saving finance costs: The business receives early payment for most of its receivables in the form of finance from the factor. It can use this money to pay its suppliers.

By signing an insurance contract with a factoring agent, the risk of bad debts is reduced.

Save administration costs: The managers of the business do not have to spend their time on the problems of slow-paying accounts receivable.

Professional service: Factoring organisations are also likely to employ staff who are experienced and skilled at collecting payments from customers and chasing overdue payments.

Optimum inventory levels can be maintained, because the business will have enough cash to pay for the inventories it needs.

Growth can be financed through sales rather than by injecting fresh external capital.

Disadvantage of factoring

Factoring can be expensive.

Damage the company’s relationship with its clients: Making payments direct to the factor, which is likely to present a negative picture of the firm\'s attitude to customer relations.

Financial difficulty indicator: It may also indicate that the firm is in need of rapid cash, raising

questions about its.

【知识点】Managing foreign accounts receivable(国外应收账款管理)

Managing foreign accounts receivable

Exporting carries a high risk of slow or non payment by customers, and requires closer control, this can involve:

Export factoring

The functions performed by an overseas factor or export factor are essentially the same as with the factoring of domestic trade debts. Forfaiting

Forfaiter purchases the invoices from the seller at a discount without recourse.

Discounting bills of exchange

It is a forward bill, for example, bank acceptance bill.

It can be sold it at a discount to their face value in the market. The company gets cash when the bills are discounted. The holder of the bill of exchange can sell it before its due date at a discount.

Export credit insurance

Export credit insurance is insurance against the risk of non-payment by foreign customers for export debts.

 Counter trading

Countertrade is a means of financing trade in which goods are exchanged for other goods.

 Letters of credit

This is known as a ‘Documentary letter of credit’. The customer\'s bank guarantees to make the payment after good delivery.

The buyer and the seller first of all agree a contract for the sale of the goods, which provides for payment through a documentary credit.

The buyer then requests a bank in their country to issue a letter of credit in favour of the exporter. The issuing bank, by issuing its letter of credit, guarantees payment to the exporter on condition that the exporter complies with certain specified conditions in the letter of credit (relating to such matters as presenting documentation for the export shipment and shipping the goods before a latest shipment date).

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