WEIP Perfectus Ltd is the company specialized in services related to undue receivables – factoring (domestic, export and import), bill of exchange discount and export insurance. Sister companies of the same name in Serbia and Bosnia are registered for the same services.

Factoring represents full financial service that includes working capital financing, collection risk protection, receivables management and collection service. Factoring services are based on contract between factor (WEIP Perfectus Ltd) and the seller of goods or services. Under that contract, factor buys out seller’s receivables and accepts collection risk. If the buyer goes under bankruptcy or is unable to pay due to insolvency problems, the factor accepts the risk.


Domestic factoring

Domestic factoring is type of financing based on assignment of undue receivables and, exceptionally, overdue receivables from various domestic buyers. After formal assignment of accounts receivable (upon signed assignment contract), the client is paid out a certain part of amount receivable (the amount of invoice) reduced by factoring costs. The remaining amount is paid out upon collection from the buyer.

WEIP Perfectus retains right to collect from the seller if the buyer fails to settle his obligations within agreed period. This is a quick and simple process and does not involve any complex documentation. 

          

1. Client (your company) delivers goods/services to the Buyer and issues invoice
2. Client delivers original invoice to the Factor, together with factoring request
3. Factor checks out Client's credit worthiness
4. Factor pays an advance in the amount of 70 - 95% of invoice's nominal value to the Client's account
5. On maturity, Buyer makes payment on Factor's account
6. After receivable's collection, Factor pays out the remaining part to the Client

Export and import factoring

Export factoring is modern and efficient service which provides improvements of business efficiency through financing and insurance of accounts receivable in export business, especially in case of deferred collection of receivables.

As export factoring, import factoring is carried out through two-factor system. In this case, WEIP Perfectus acts as import factor that approves credit line for domestic buyer. Foreign supplier concludes factoring agreement with export factor situated in his country. If the requested credit line is approved (based on buyers credit worthiness), WEIP Perfectus contacts export factor and/or supplier to arrange business.

After formal assignment of receivables Client is paid out a certain percentage of total invoice amount reduced by factoring costs.

                  INTERNATIONAL EXPORT FACTORING                                           INTERNATIONAL IMPORT FACTORING

                                     

1. Client delivers goods/services to the Buyer and issues invoice
2. Client delivers original invoice to the Export Factor, together with factoring request
3. Export Factor asks for credit worthiness from Import Factor (correspondent foreign Factor - in Buyer's country)
4. Import Factor checks out Buyer's credit worthiness
5. Export Factor makes inter factoring contract with Import Factor or insures receivables trough insurance policy
6. Export Factor pays out the Clients (Exporter) an advance in the amount up to 80% of receivable's nominal values
7. The Buyer pays for the goods/services received to the Import Factor account
8. Import Factor trasfers funds to Export Factor account
9. Export Factor pays out the Client (Exporter) the remaining part of the invoice

  

Bill of exchange discounting

If the buyer has issued the bill of exchange with specific amount and maturity, BoE discount can serve in a way very similar to factoring.

After concluding the agreement, BoE is transferred to WEIP Perfectus who pays up the amount on BoE reduced by cost of discount. Upon maturity FIMA Perfectus sends BoE to the bank for collection.