АО “PERVOURALSKBANK” and Prime Factoring
PARTNERSHIP RELATIONS WITH MAJOR DEBTORS
Partnership agreements and direct dispatch verification with debtors allow for:
Limits for major debtors are pre-confirmed by the Bank -Factor, thus suppliers’ financial soundness is not assessed and is not a criterion for taking decisions with regard to transactions.
We use open schemes of factoring servicing where a tripartite notification is signed about the assignment of monetary claims to the debtor. The Bank-Factor files all necessary documents with the debtor by itself.
INSURANCE OF ACCOUNTS RECEIVABLE
The Bank-Factor’s factoring portfolio is insured by one of the TOP-10 Russian insurance companies.
The insurance covers the following risks:
In case of late payment of debt by the debtor, losses are covered by the insurer.
The Prime factoring group, which includes the Bank-Factor AO “PERVOURALSKBANK” and a non-banking factoring company Prime Factoring, uses both its own funds and borrowed funds for factoring transactions financing.
The combination of standard banking funding from AO “PERVOURALSKBANK” – the group’s own bank – and financial borrowing in the market by a non-banking factor – Prime Factoring – in order to finance factoring transactions ensures that the Prime group:
Our reputation is being confirmed daily – by our partner debtors' decisions to recommend us to their suppliers as a financial partner who: