Factoring in domestic currency

The module is designed for the execution of factoring and management of purchased claims in domestic currency.

Software support enables:

  • input of umbrella contracts of assignors,
  • on the basis of umbrella contracts input of parameters (limits) of debtors is enabled,
  • input of umbrella contracts’ annexes and debtors’ limits,
  • authorization of parameters, annexes and purchase with retyping or without,
  • allocation of funds (settlement of fees and charges, withholding of reserve, assignor remittance),
  • calculation of ordinary interest and interest on arrears (interest claims are settled from reserve),
  • reconciliation of assignor or debtor’s outstanding claims,
  • depreciation of claims depending on the credit rating of debtor,
  • reclassification of claims,
  • possibility of repayment of reserve after reconciliation of all claims on the invoice package,
  • warning procedure,
  • review of outstanding claims by day,
  • reviews and printouts of purchased claims according to assignors and debtors,
  • purchase card with a review according to account,
  • incorporation into reports on entire bank level.