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Domestic Factoring

Domestic factoring business refers to the integrated financial service that, a domestic seller (creditor) assigns its accounts receivable arising from its sale of goods or rendering of service to a domestic buyer (debtor) or other reasons to the Bank, and the Bank provides the seller with accounts receivable factoring financing service and/or commercial credit investigation service and/or accounts receivable management and collection service, and/or provides the buyer with credit risk guarantee service.
The service is mainly provided for upstream suppliers of core enterprises in the supply chain. ABC can, based on the credit standing and trade background of the seller and the buyer, offer pertinent services such as factoring with recourse, factoring without recourse and third-party guarantee factoring service. It can accelerate the seller's capital turnover, alleviate the buyer's funding pressure, prettify the seller's financial statements, foster quality enterprises in the supply chain, and enhance overall competitiveness.
1. Acceptance
The following materials should be provided:
(1) Application for Domestic Factoring Service;
(2) Basic information about enterprise (the same as information required for working capital loans);
(3) Purchase and sale contract with true background and VAT invoice;
(4) Dispatch list, shipping document, and receipt etc.
2. ABC buys accounts receivable or provides other professional factoring service after fulfilling relevant approval procedures.

Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599


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