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SERVICES PROVIDED
Services Provided by Laiki Factors
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Laiki Factors offers the following services:
- Sales ledger administration
- Trade debt collection
- Financing against trade debts
- Credit protection
Sales ledger administration
Laiki Factors manages your sales ledger, relieving you of the time-consuming and costly processing of invoices, credit notes, daily payments and monthly statements to your customers. Regular and updated information on your ledger helps you plan your distribution with precision and optimise deliveries and stock control.
Trade debt collection
Securing payment from customers can be seriously time-consuming and expensive. At Laiki Factors, our credit control staff deals with thousands of different companies each week. They probably know your customers already and understand their payment procedures. Therefore, it makes sense for this service to be provided efficiently and diplomatically.
Additionally, your customers have the luxury to make payments through any of our Group’s 130 branches island-wide. Customer payments received are transmitted to your bank account electronically. Laiki Factors informs you electronically of all receipts and payments made.
Financing against trade debts
For approved credit invoices we can provide financing by advance payment of up to 90% of their face value within 24 hours of them being raised. Financing may be offered in any major currency at very attractive interest rates.
The remaining balance of the invoice value less our charges is automatically transferred to your account as soon as your customer settles the invoice in full.
Credit protection
For your Cypriot customers, we will back our credit limit recommendations with up to 100% credit protection. Within approved limits we carry any losses resulting from customer default. This means your business is protected from the potentially serious effects of a breakdown in cash flow caused by a buyer’s insolvency. There are no protracted claims procedures - if your customer fails to repay his debts to you. We also offer credit protection for your customers abroad, in collaboration with our correspondent Factors which are also members of Factors Chain International (FCI).
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Sales ledger administration
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