Non Recourse Factoring

Central Commercial Factoring Department

business@bancasistema.it

800 691 629
Freephone number
Available Monday to Friday
from 8.30AM to 6.00PM

Product Details

Offices

Milan
Largo Augusto 1/A, ang. via Verziere 13
20122 Milan - IT
Naples
Via Verdi, 35
80133 Naples - IT
Palermo
Palazzo Branciforte - Via Bara All'Olivella, 2
90133 Palermo - IT
Pisa
Galleria Chiti, 1
56125 Pisa - IT
Rome
Via Romagna, 25
00187 Rome - IT

Non-recourse factoring was created to allow a company that has a receivable (the Assignor) to immediately collect that receivable, speeding up recovery times and facilitating cash flows.

With this type of product, the company assigns its portfolio of receivables to the Bank, in return for the payment of a price, and the Bank acquires ownership of those receivables.

The assignment of the past due or maturing receivable arising from commercial supplies, is made on a definitive basis, in compliance with the international accounting standards.

For assignments relating to Public Administrations, the Assignor must be in order with payments to the tax authorities and social security institutions.

Objective

Providing the supplier (Assignor) with the immediate collection of the trade receivable, speeding up recovery times and facilitating cash flows.

How

The company assigns its portfolio of receivables to Banca Sistema, in return for the payment of a price, and Banca Sistema acquires ownership of those receivables.

Type of Receivables

Past due or maturing, arising from commercial supply relationships with Public Administrations (Ministries, Regions, Provinces, Municipalities, Local Health Authorities, Public Hospitals, etc.).

Price

Takes into account market rates (based on estimated collection times), the servicing fee and the debtor's rating.

Documents for preliminary analysis

  • Certificate of Good Standing, Deed of Incorporation and Articles of Association
  • Portfolio with list of names proposed for non-recourse factoring and the related amounts

Documents for the approval

  • Last two financial statements and interim report
  • List of bank credit lines
  • Documentation certifying tax compliance
  • Supply contracts, invitation to tender, order