Operation of the Factoring System

1 – Seller appeals for limit to Kredi Finans Faktoring with any information and document necessary with respect to its receivable arising from the commercial transaction being realized by and between the seller and buyer.
2 – Upon inquiring about the credibility of the seller, Kredi Finans Faktoring declares the limit it allocates and the terms of use thereof to the seller. Respective contract is thereupon being entered into with the seller.
3 – Seller submits to Kredi Finans Faktoring one copy of each and every one of the invoices and respective valuable papers it has submitted to the buyer. Kredi Finans Faktoring thereafter conducts any enquiry necessary.
4 – In case the aforesaid enquiry results to be positive, Kredi Finans Faktoring then executes assignment process on the respective invoice, and the related valuable paper is received from the seller firm.
5 – Kredi Finans Faktoring makes the payment to the seller within the frame of the agreed ratio.
6 – At the due date of the valuable paper in question, Kredi Finans Faktoring collects the subject receivable of the respective factoring transaction.

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