Domestic factoring is a comprehensive financial service designed by CMB to facilitate domestic sales on credit. Sellers transfer receivables incurred from sales contracts signed with buyers to CMB for a series of financial services including trade financing, sales account management, collection of receivables, credit risk control, and bad debt guarantees.
·Open financing factoring with recourse
·Closed financing factoring with recourse
·Open financing factoring without recourse
·Converts receivables into cash for sellers, thus improving financial status.
·Helps buyers offer more competitive remote payment terms.
·Passes on buyers' credit risks to the bank.
·Saves enterprise management costs as CMB is responsible for creditability research, account management and the collection of receivables.
·Enables buyers to offer remote payment terms, accelerating turnover of fund and boosting profits.
·Trims the cost of issuing bank drafts and letters of credit.
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.