The essence of the factoring agreement is easier to explain with an example. Let's say your company is engaged in the supply of sweets. You shipped goods worth 1 million soms to a supermarket chain, but under the terms of the contract, the client has the right to pay not immediately, but only after 2 months. To receive money immediately, you can contact the factor - the Bank. The bank will pay you instead of the buyer and take a commission for its services. After 2 months, the supermarket chain will transfer the money not to you, but to the factor (the Bank).

• A copy of the creditor's passport, documents on the marital status of the creditor's spouse and guarantors (if any)
• Any documents confirming experience in the funded field
• Copies of primary business documents
• Certificate of registration as an individual entrepreneur or patent
• Contract between the Client and the Debtor with all annexes, additional agreements and other documents that are an integral part of the relevant Contract, the monetary claim under which is assigned to the Bank etc.);
• Documents that ensure the fulfillment of obligations by the Debtor, as well as other documents related to the assigned monetary claim, if this is provided for by the Contract between the Client and the Debtor.

Other documents required for making a decision.

• Certificate of registration of a legal entity
• Charter, memorandum of association (decision on creation)
• Certificates from the State Tax Inspectorate and the Social Fund on the absence of debt
• Financial reporting (Balance sheet, Profit and loss statement, Cash flow statement, Statement of changes in the UK).
• A document confirming the authority of the head (appointment decision, power of attorney).

Other documents required for making a decision.