Archive for July, 2018

Greatest Opportunities for the Proper Factoring Now

Factoring is an indispensable part of business life today. This innovative financing instrument continues to gain in importance as it significantly improves the liquidity of your company directly.

Factoring instead of bank credit

The factoring principle is simple: your company sells all money receivables from goods transactions and services to the factor. In return, you will receive immediate liquidity, approximately 80% of the respective invoice amount will be immediately transferred to your bank account, the remainder as soon as your customer has completely settled his bill, but no later than 90-120 days after the due date of the invoice regardless of whether your customer paid or not.

Professional debtor management

Factoring takes over and manages your claims comprehensively. The specialists monitor the incoming payments and write the necessary reminders. As the factoring customer, you outsource the entire debtor management to us, thus relieving your bookkeeping and your administration. And, your company saves time, effort, hassle and expense. The accounts receivable and receivables management has a modular structure and can be implemented individually in your company processes. The use of factoring invoices is also there.

Hedging against bad debts

Due to the 100% assumption of risk, your company will in the future be spared from bad debts. Our specialists for perfect accounts receivable management constantly monitor the creditworthiness of your customers and the development of the markets and can thus precisely assess your demands. You benefit from liquidity and security.

The differences between silent factoring and open factoring are explained below. Quiet factoring and open factoring differ in the type of assignment of claims. Quiet factoring means that the assignment of claims is not made public to the debtors, whereas in the case of open factoring, the sale of receivables from all customers is declared.

If factoring looks right for your business, you can fill out our factoring product form and get quotes from three leading factoring companies.

Silent factoring

Since the debtor is not the non-notification factoring over the sale of receivables is informed, is on the bill also does not appear that a sale of the debt has occurred. Thus, the customer transfers the outstanding amount to your account without the “detour” via the account of the factoring company . However, this form is unusual.

Open factoring

Open factoring means that the debtor is informed about the assignment of the claim. First, all customers must be informed about the sale of receivables. The account no longer contains its own account number, but that of the factoring company. This form is preferred by the factorization companies due to the increased transparency and security.

Import factoring and export factoring

In addition, attention should be drawn to import factoring and export factoring. If an exporter has claims against foreign debtors and sells them, it is called export factoring or forfaiting. Import factoring refers to the process when foreign companies hire a German factoring company to take on their receivables.

Safe Deals for the Best Mortgage

Freedom of contract is the fundamental principle of civil law, which allows the conclusion of contracts on any terms that do not contradict the provisions of the law. A mortgage contract is a real estate pledge agreement that secures the obligation of the owner of this property (mortgagor) to repay a debt to a bank or other person (mortgagee).

The place of residence (registration) of the owner of real estate of a legal value does not have, that is, the law does not prohibit a person registered or living in one subject of the Federation to acquire ownership or conclude another transaction (including a mortgage agreement) in respect of immovable property located on territory of another RF subject. Fine suggestions are there from mortgage broker GeelongĀ .

However, the bank can extend the period for checking the documents of the person who applied for a mortgage contract, if the person is registered or does not live in the area where the bank is located. The same situation regarding the location of the bank concerns the location of the property.

Tips for Choosing a Bank to Take a Mortgage

How do banks check applicants for mortgages in practice?

Yes it is possible. There is an extraterritorial principle for the approval of mortgages. Now very often there are cases when people work, and themselves are registered in other regions of the Federation. Banks are of the opinion that the best option is to apply where the property is located, so that there are no unnecessary questions.

The execution of a mortgage loan agreement is possible regardless of registration at the place of residence. The current civil law does not contain any mandatory conditions for mortgage registration. However, it should be borne in mind that banks have the right to establish requirements for the borrower. In this case, the bank may refuse to provide any loan (including mortgage) at the stage of concluding the contract, if it considers that the loan amount may not be returned by the borrower. As such a circumstance can also serve as a mismatch of the place of obtaining a loan with the place of your permanent residence.

The fact is that a mortgage loan is granted for a long period and for a fairly large amount. Therefore, if the borrower draws up a mortgage in one region, and is registered in another, then for the bank this is an additional risk factor. Thus, the law prohibits the receipt of a loan in a region other than the place of permanent registration, and many banks lend to all citizens, regardless of place of residence or place of stay. Therefore, if you want to get a mortgage loan, visit the bank first to find out more specific loan conditions.

To whom do banks give mortgages for an apartment, and who is denied?

When making a mortgage, you should carefully read the terms and conditions of the bank. As a general rule, there is no need for a permanent registration in a region where citizens apply for a loan. However, one of the important conditions in the contract with the bank is the indication of the address of registration and the address of the place of stay, and often banks require clients to notify them in case of a change of residence.