For Buyers

Factoring is an instrument, which enables to change the relationship between you and your supplier in a qualitative way: this refers to increase of payment terms, increase of purchase volume, possibility to operate under open account terms from the very first shipment.

Factoring gives you numerous possibilities. You no longer need to draw upon a credit or search for working capital to purchase goods. The only necessary thing is to meet the engagements in terms of timely payment for the purchased goods. This will reduce the factoring commission for your supplier, which means for you too.

In case of assignment of accounts receivable, the payment amount shall not be changed and your relationship with the supplier shall not be subject to any essential alterations.

All previous agreements and cooperation practice shall remain unchanged. You should pay under the supply contracts within the same terms as before, only using new payment instructions.

You may act as agent for attracting new clients for NFC, by means of informing your Supplier about the services, which may be rendered to him by the Factor.

In order to obtain from your Supplier a commercial credit, you should take the following measures:

• Notify the Supplier about your desire to participate in the factoring program;
• Submit a package of documents, incorporating the information about your company, to the Supplier;
• Sign a sales contract;
• Sign a notification (three copies) confirming, that you are duly notified of assignment of your debt under the sales contract to Factor, and you undertake to make all the payments under the given contract directly to Factor.