How do you turn your accounts receivable into cash faster?
With the growing trend to use open account terms, instead of L/C, as a settlement method for international trade, Bank of China (Hong Kong) offers a flexible solution for suppliers who are eager to build favourable relationship with their customers.
Bank of China (Hong Kong), as a member of the Factors Chain International (FCI), provides one-stop Factoring Services to meet your accounts receivable needs. Subject to a pre-agreed percentage of the approved invoice value, you can turn your accounts receivable into cash, without providing additional collaterals.
Factoring also provides the following benefits:
Credit Risk Protection
We provide you with 100% credit risk protection for sales covered by an agreed credit line, when the buyer goes bankrupt, closes business or fails to effect payment.
Our correspondent will remind your buyers to pay on time, thus reducing your burden of debt collection.
In addition to your existing banking facilities, we provide you with another source of financing to facilitate your cash flows.
Assessment of Buyer's Credit
In conjunction with our correspondent banks, we can carry out extensive credit checks on your buyers, allowing you to focus on developing your business.
For any enquiries about Factoring, please call our Trade Services Centre at (852) 3988 2288 or e-mail: firstname.lastname@example.org .