You can benefit from the long-term experience and know-how of the NBG Factors team, together with cutting-edge IT infrastructures.
Working with NBG Factors, you can access quality services that help you strengthen your business's liquidity and ensure its growth.
Should you have any queries, you can contact your Relationship Manager or Corporate Transaction Banking Officer, visit any NBG branch, or the NBG Factors website.
Factoring is an agreement between the factor and the supplier, by which:
(a) the supplier can assign his/her claims against customers (debtors)
(b) the factor should provide at least two of the following services:
The supplier signs a Factoring agreement with NBG Factors and notifies the debtors (customers) in writing of the assignment of the debtor receivables to NBG Factors
Following delivery of goods or the provision of services, the supplier notifies the factor of his/her assigned debtor (customer) receivables
The factor grants advance payments (provides financing) to the supplier on the basis of the value of the receivables assigned.
The debtor pays to the factor the value of the receivables that the latter has undertaken to manage and collect.
The overall cost of Factoring involves two cost components:
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