Once we have agreed on the terms and conditions of a factoring contract and signed it, you will need to assign and submit all the invoices of each buyer covered by the factoring contract to us. Under the factoring contract, the sales process is as follows:
- You sell goods or services to a buyer covered by the factoring contract.
- You send the sales invoice with an assignment note to the buyer and Nordea Leasing at the same time.
- Before financing the sales, Nordea Leasing may request prior confirmation of the invoice from the buyer and transport documents showing the goods have been shipped or the service provided.
- Nordea Leasing normally transfers the advance payment for the invoice to your current account on the day the invoice is received.
- The buyer pays the invoice to Nordea Leasing.
- Nordea Leasing pays you the rest of the amount on the invoice.
- Interest and processing fees are agreed in the contract.
Requirements for invoices
- Invoices must meet the legal requirements
- Invoices must state the payment date or payment conditions
- Invoices must clearly and visibly state that the claim for payment has been assigned and the invoice must be paid to the current account of Nordea Leasing