Required Preliminary Actions And Documents

Fill out and submit seller & buyer information forms to determine available credit cover (limit).

Buyer limits are determined following evaluation undertaken by correspondent import factors and are submitted along with a credit approval notification form within 15 days.

Please click here to access factoring agreement, its addendums and the GRIF.

If Financing Is Requested

Information and documents set forth in the attached list are required from clients for credit disbursement.

A loan limit is allocated to the firm upon evaluation and working conditions are determined accordingly.

Signing of Agreement

Following receipt of correspondent pricing for guarantee commissions, client offer is prepared for commission and funding rates. Faktoring agreement is signed.

Shipment

The client submits copies of shipping documents and assigned invoices to TEB Faktoring. The invoices must bear the appropriate legend stamp (sticker).

Advance Payment

Where funding limits are available, 80% of invoices assigned are transferred to your account at Türk Ekonomi Bank.

Payments

Following receipt of a payment, within the term of the invoice, the balance remaining after all previously made advance payments, as well as costs + interest + commissions and other legal fees are deducted from the total amount is transferred to your account at Türk Ekonomi Bank.

Payment Under Guarantee (pug)

In case of non-payment for any reason such as insolvency, default, bankruptcy, or plain refusal to pay – except by reason of dispute – client will receive payment under guarantee 90 days after the maturity date of the approved invoice.