What is Import Factoring?

QNB Finansbank

What is Import Factoring?

QNB Finans Faktoring enables its customers' overseas vendors to benefit from the guarantee and collection follow-up services in relation to this receivable in forward and against goods import transactions to be carried out by enterprises from abroad. Thus, an alternative guarantee model is provided to foreign sellers through import factoring transactions.

The buyer limit application for import factoring transactions comes from an export factoring company abroad. In addition to guaranteed transactions made within the framework of the limits established for importers and notified to export factoring companies abroad, transactions only for collection purposes (without guarantee) can be performed.

What are the Advantages of Import Factoring for the Importer?

It increases the competitiveness in the domestic market, as it provides the opportunity to import forward and open accounts instead of cash.

It gets the opportunity to carry out imports at a much lower cost and with less procedures.