Factoring Regulations

The financial and management services included in the Factoring relationship are based on the transfer of credit, which is regulated by Law 52/91 on the subject of transfer of credits resulting from the company's characteristic business operations and section 1260 et seq. of the Civil Code on the subject of other types of credits.
As all current and future credits are transferred to the Factor in full on an ongoing basis for all debtors included in operations, the services offered by the Factoring company are based on the following essential tasks:

  • transfer of credit

  • notifying the debtor of the transfer, in business correspondence or in the form required by law (transfer by notary in the case of credits held with public sector organisations)

  • verification of the collectability of the transferred credits, intervening with the transferor and/or debtor to eliminate any technical or administrative hurdles delaying collection

  • collecting credits as they fall due

  • sending reminders for payment of credits which have fallen due and crediting collected credits to the transferor

  • reporting on tasks performed

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