Factoring offers transaction based finance, protection & collections of trade receivables that assist businesses compete with suppliers on beneficial trading terms. Emirates NBD offers Factoring Services to improve your company's cash flows and maximize the utilization of your current assets. It solves your problems in administering and monitoring local and export receivables. It also eases your burden to deal with difficulties created by language barriers, unfamiliar customs practices and laws, long distance communication and lack of sources of reliable credit information.
For a business operating on open account credit terms, factoring helps in growing the business, speeding up the cash flows, collecting invoices and, in selected cases, even protecting the businesses from the risk of bad debt.
Product Offering
- Domestic Factoring (with and without recourse)
- Export Factoring (with and without recourse)
- Import Factoring
- Collection on services (Exports and Imports)
Key Features and Benefits
Receivable financing allows you to convert your money locked up in accounts receivable into cash soon after the invoices are raised. It is a cost effective alternative when compared to other financing products.
Sales Ledgering and Reconciliation provides automatic sales ledgers that help you keep track of your sales. It also provides MIS reports that help you run your business more effectively and enjoy lower administrative costs and overheads.
Sales Ledgering service helps you further concentrate on your business development activities, while the bank provides skilled credit controllers along with professional collections and cash allocation processes, that allow you to save time and resources, and also seek prompt repayment of your invoices.
Collection Services
Emirates NBD will assume responsibility for collection of receivables under the factoring agreement. Bank has systems in place for tracking receivables on an invoice basis and has an effective correspondent network in more than 60 countries for follow up on your receivables.
Credit Protection and Non-Recourse Financing provides protection against bad debts on all approved invoices should the buyer default. Financing under this arrangement can also be provided on a non recourse basis.
Emirates NBD is a member of Factors Chain International (FCI), the world's largest network of factoring companies with a presence in over 60 countries. Using our local network and FCI membership we can finance both your domestic and export sales and service your import factoring needs.
Apart from corporate banking our other services include
personal banking,
private banking,
business banking &
priority banking. It is our constant effort to meet all the requirements of Emirati efficiently.
