Factoring is financing of receivables and invoice management. Factoring allows you to offer your clients longer payment deadlines whilst improving your liquidity.
Factoring service is offered by AS SEB Liising.
Standard terms and conditions of factoring | |
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Contract limit | starting from 100 000 euros |
Debtor limit for every buyer | at least 5 buyers should be included to a factoring contract. All invoices issued to these buyers should be assigned to SEB Liising |
Advance rate | up to 90% |
Contract term | up to 12 months, can be extended by mutual agreement |
Contract fee | according to price list |
Invoice processing fee | according to price list |
The payment term of invoices | depends on the terms and conditions agreed in the commercial contract. |
We advise you to agree in the terms and conditions of the sales transaction with your buyers before you apply for factoring.
Factoring applicants must submit the following documents:
The following documents are required for entry into a factoring contract:
Once you have entered into a factoring contract with SEB, you must submit the invoices meant for the buyers listed in the contract to us. The sales process and receipt of money take place as follows:
An overview of your factoring transactions is available to you in Internet Bank for Business.
Requirements for factoring invoices
You must send all invoices to be submitted to your buyers, including credit invoices, to SEB. It is important to make sure that
Factoring with credit insurance helps to reduce the risks associated primarily with foreign buyers.
SEB together with our insurance partner will handle the debt collection if a buyer fails to pay an invoice that was financed with factoring. SEB is the beneficiary in the insurance contract.
Insurance does not indemnify for disputed invoices. You have to resolve any disputes with your buyers about the quality of goods and the performance of the sales contract. Making the sales contract as accurate as possible and documenting all communication between the parties makes the resolution of disputes easier.
If you have already entered into a valid credit insurance contract yourself, SEB offers you financing of receivables with full recourse. In such a case, you refund the advance payment to SEB if the buyer is in debt and you have to follow the terms and conditions agreed with your insurer in any actions required under the insurance contract. SEB will be the beneficiary in the insurance contract.
Valid from 01.01.2021
General transaction and service fees of Factoring (1) | |
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1. Conclusion and/or extension of a factoring agreement | Fee as agreed, min €200 |
2. Changing the agreement limit | Fee as agreed, min €200 |
3. Invoice handling fee | Fee as agreed |
4. Adding/changing obligor limit (payers without credit insurance) | € 35 |
5. Adding/changing obligor limit (payers with credit insurance) | € 55 |
6. Changing other terms and conditions of the agreement (excluding changing and/or extending the agreement limit) | € 65 |
7. Preparation of non-standard factoring reports and certificates | €30 per hour, min €30 |
(1) Service fees include VAT as per Value-Added Tax Act
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