The Perfect Steps for the Best Factoring Options

It is a new collection system, which allows you to receive quickly and efficiently the payment of bills issued to your customers. Factoring Electronic also gives you the possibility of accessing a short-term financing, by advancing your invoices at highly competitive rates. From Alliance One you will be having the best deals.

What benefits does it offer?

Liquidity: You can access the advanced payment of your bills at preferential rates.

Efficiency: Receive the credit directly in your account (avoiding waiting for inquiries, procedures, etc.)

Information: You can access detailed information about your collections at any time through the Electronic Factoring website: www.factoringelectronicobcp.com .

Flexibility: You can decide which bills you want to receive ahead of time and when you want to receive the advances.

Savings: It generates savings in operational and administrative collection expenses.

How does Electronic Factoring work?

The operation is very simple. Your customer – must have contracted the Electronic Factoring service – electronically sends the bank the information of their invoices to be paid. Once the bank receives this information, it processes it and, depending on the payment method you choose, makes the direct payment in your Account.

Payment Modalities?

Fulladvance

With this modality, you will receive the advance of all your invoices the day after receiving the information of your client.

Online

Through this modality you can choose which invoices you wish to receive in advance, receiving the payment of the remaining invoices in their respective due dates.

Payment at expiration

Through this modality you will receive the payments of your invoices by means of installments in your accounts on the expiration date of the same. Under this option you will not be able to receive advances.

What is the Affiliation procedure?

If you are already a customer of the Bank:

You only need to fill out the “Affiliation Contract for the Electronic Factoring service”, indicating the client’s name and send it to the Business Services area. This contract must be signed by the legal representatives of your company.

It is important to place in the “Affiliation Agreement” the account number corresponding to the currency type of the invoices that you handle with the client to which you are going to affiliate.

If you are not a client of the Bank:

You must open a Current or Savings Account in the same currency as your receivable invoices. To carry out this process, you must go to the “Platform of Products and Services” located in the Credit Bank agencies. Once your account is opened, you must obtain the “Electronic Factoring Affiliation Agreement”.

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