Factoring service
A service that provides short-term financing to suppliers through the bank's purchase of receivables arising between suppliers and buyers
MNT
Factoring service | |
|---|---|
Financing amount | Up to 90% of invoice amount |
Financing limit | No more than 20% of revenue |
Financing term | Up to 90 days |
Currency | MNT |
Discount rate | 1.6%-1.9% /monthly/ |
Commission | 0.2% |
Collateral | The Receivable |
- Must be a legal entity registered with the registration authority of Mongolia and operate within Mongolia
- Has been in stable operation for at least 3 years in the field of business, has experience, financial ability, complies with the Law on Combating Money Laundering, has not been criminally responsible for money laundering or financing terrorism, and has not been punished under the Infringement Law.
- Must have obtained the necessary licenses to operate from the relevant authorized bodies, and the documentation must meet the legal conditions and requirements
- Must not have any overdue or non-performing loans or interest obligations with other banks or non-bank financial institutions
- The seller and the buyer must have a history of providing goods, work, or services at least twice
- The seller and the buyer must not be related parties with a common interest or interdependence
- Must meet any other requirements set by the bank
We offer you a product to finance payments and settlements between freight forwarding companies, customs authorities, and importing organizations.
A product that allows buyers (borrowers) to conduct online transfers to suppliers' account for goods and services payment, using a supply chain credit line limit provided by the bank.
To quickly finance working capital based on the export LC without requiring a collateral.
We offer financing for short-term working capital needs by securing your receivables.