With factoring, you increase your liquidity and are 100% protected against bad debt losses. Factoring also gives you security and takes the pressure off your company.
The entire receivables/debtor management is outsourced and the balance sheet is reduced. Factoring also increases the equity ratio.
Factoring is generally always worthwhile for you, as you significantly increase your liquidity. It is also beneficial if you have high outstanding receivables and want to protect yourself against bad debts.
No, quite the opposite: factoring is a way of protecting yourself and your company against liquidity bottlenecks and counteracting the threat of insolvency. As a rule, insolvent companies cannot participate in factoring as they are not accepted by the factoring companies.
Once the transport has been completed, you can easily upload your transport order and the proof of delivery to the JITpay™ portal. You can then simply create the invoice via JITpay™ or upload your own invoice or credit note from your client to the portal. JITpay™ then sends this to your client. By the way, the JITpay™ invoicing service is free of charge.
In general, the following applies: no more than 30 days may have passed between the provision of the service (the most recent date in the case of collective invoices) and the creation of the invoice.
In addition, the invoice must not have reached its due date.
You don’t have to have been in business for long – some service providers now even offer factoring for start-ups.
JITpay™ is obliged to identify all contractual partners beyond doubt in accordance with the provisions of the Money Laundering Prevention Act. This procedure is comparable to the checks required to open an account with your bank.
Still questions left? Find more information here.
Or send us an email to:
support@JITpay.eu
or call us directly on: +49 531 387 630 – 10.