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factoring

factoring

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Published by Pooja Chandak
need of factoring explained through case study
need of factoring explained through case study

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Published by: Pooja Chandak on Mar 26, 2013
Copyright:Attribution Non-commercial

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08/20/2013

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F
ACTORING
 P
ROCESS
 
WITH
 B
ANK
 
 
NCRD’S STERLING INSTITUTE OF MANAGEMENT STUDIES
 
P
RESENTED
T
O
,
Prof. Mayur Malviya
P
RESENTED
B
Y
,
Mr. Mohd.Shaikh Shahnawaz (A-39)
 
Ms. Pooja Chandak (B-80)
Mr. Amardeep Vengulekar(B-109)
Mr.Chetan Shivankar(B107)Ms. Rajeshree Bhoir (B-110)
1
 
M
EANING
 
Factoring is a financial option for the management of receivables
In simple definition it is the conversion of credit salesinto cash
In factoring, a financial institution (factor) buys theaccounts receivable of a company (Client) and pays upto 80%(rarely up to 90%) of the amountimmediately onagreement. Factoring company pays the remainingamount (Balance 20%-finance cost-operating cost) to theclient when the customer paysthe debt
2
 
M
EANING
 
factoring against goods purchased, factoring forconstruction services (usually for government contractswhere the government body is capable of paying back the debt in the stipulated period of factoring. Contractorssubmit invoices to get cash instantly), factoring againstmedical insurance etc.
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