Factoring contracts as a means of financing for companies
By means of this type of contract, a Factoring company (commonly called a “factor” company) acquires the credits that a company or businessman holds against its clients
They are a short-term financing alternative aimed at small and medium-sized companies that convert credit sales into practically cash operations.
Factoring is a financial operation that consists of the assignment of commercial credits (promissory notes, invoices, certifications, debt acknowledgments, etc.) to a Factoring company in exchange for a certain fee or factorage.
A company can assign the invoices it wants, but generally, the assignment of all the invoices of each client is usually agreed, thus a more efficient management is achieved to receive the money more quickly postponed.
The assignment of credits must be made before its expiration and with or without the right of return. It can be agreed that the Factoring company assumes the risk of debtor insolvency (Factoring without recourse) or, on the contrary, can repeat against the assignor if it does not arrive to collect the debt (Factoring with recourse).
The Factoring contract involves the Factoring company (which is usually a credit institution), the businessman who assigns the credits of his business and the debtor thereof. No consent is required on the part of the debtors, it is enough that they are notified of the transfer of rights that affect them and from that moment they are only bound by the new creditor, the factoring company.
This form of financing for companies includes a series of services attached to it, such as collection management, administration of the receivable portfolio, analysis of debtors, provision for possible defaults, coverage for insolvency (in the case of Factoring without recourse), etc.
Las principales ventajas del Factoring residen en que:
- Como las empresas de Factoring anticipan el importe de las facturas pendientes de cobro, las empresas ven incrementada su tesorería con rapidez.
- Mejora los ratios de endeudamiento y del circulante, eliminando las cuentas a cobrar. Con el Factoring sin recurso puedes contabilizar tu saldo de clientes como cobro al contado, mostrando así un mejor ratio de plazo de cobro.
- En el caso del Factoring sin recurso supone también un buen medio de cobertura ante situaciones de insolvencia o impagos de los clientes.
- Administración de la cartera a cobrar por parte de la entidad financiera, lo cual permite destinar recursos y tiempo a otras funciones propias de la actividad de la empresa que generen mayor volumen de ventas.
A la hora de contratar un servicio de Factoring cada empresa tendrá que analizar cuáles son sus necesidades, según el volumen de sus facturas o nivel crediticio, la capacidad de pago de sus clientes, etc. Aunque en el momento de la elección siempre se debe partir de las siguientes premisas:
- El procedimiento de solicitud y contratación debe ser sencillo.
- Debemos asegurarnos de que supone un proceso de financiación rápido, pero seguro.
- Su coste debe ser transparente. No debe suponer una alta carga financiera pues puede reducir de manera significativa las ganancias.
We must look for a simple, fast, secure and transparent means.
Traditionally, banks have offered this type of service. However, the alternative option involves other financial credit institutions that are more specialized in working capital operations, especially those that are committed to collective financing (known by its acronym in English, crowdlending ). This modality is offered through an agile and secure platform where companies that need immediate liquidity and all those who wish to invest in them can participate. There is mutual support and both benefit from the operation.
Companies that opt for a factoring service and choose the participative financing modality find themselves in a transparent and secure environment where they can see all the movements that are produced and how their financing is completed. The cost is lower and the company has more decision-making power over it.
