Factoring and Forfaiting CDCS CAIIB JAIIB by Yuvaguru app

Factoring

Factoring is defined as a continuing agreement between a financial institution (known as 'Factor') and the business concern (the exporter/seller) selling goods or services to track customers on Open Account Basis, whereby the factor purchases the clients' book debts, either with or without recourse to the client and in relation thereto controls the credit extended to the customers and administers the sales ledger.