We insure receivables acquired by a factor. We have years of experience in working with factoring companies - both banks and factors from outside of the banking sector. We offer insurance of both export factoring and domestic factoring.
Who is eligible
Factoring companies (including banks) acquiring export and/or domestic receivables from their customers.
- Protect receivables purchased from your customers against commercial risk, and in the case of export receivables also political risk.
- Offer your customers non-recourse factoring, where KUKE assumes the risk of buyer’s default.
- You will work with a credit insurance company who has many years of experience in covering export transactions, including transactions carried out on high-risk markets.
Free up cash frozen in unpaid invoices and improve your company's financial liquidity.
- Offer longer payment terms to your customers without hurting your company’s liquidity.
- Save time and let the factoring company handle managing and collecting payments from customers.
- We cover commercial risk, namely bankruptcy of the buyer (debtor), or a delay in payment of receivables (for more than 90 days). In case of export factoring, the scope of cover also extends to political risk, i.e. a situation where the buyer has not settled his obligations as a result of the decision made by the authorities in the buyer’s country, or a change in legal provisions in the buyer’s country.
- We cover undisputed receivables only.
- We cover receivables purchased by a factor arising from sales of goods or services, payable within two years in case of export sales, and within one year in case of domestic sales.
- Receivables must be purchased by the factor before their due date, but no later than 30 days from the date the invoice was issued.