Factor
Overall rating: (N/A)
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Factors (purchases at discount) accounts receivable from
businesses needing operating capital: Directs colelction of
facts about prospective client's business, such as credit rating
of customers, evaluation of past losses, terms of sales, due
dates, average amount of invoices, and expected volume and
turnover of accounts receivable.
Evaluates data collected to
determine type of factoring plan to propose and percentage of
net face value of accounts to advance which will yield favoralbe
profit margin and alleviate client's cash shortage. Determines
charge from fee schedule. Explanis factoring agreement to
client. Prepares and signs contract specifying terms of
agreement and rights and obligations of both parties.
May
provide clients with other business services, such as credit and
collection services, acocunts receivable bookkeeping, and
management consulting, on contract or fee basis. May specailize
in factoring agreements in one or more industries.
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Factor
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