A/R Financing – Engineering Consulting Firm

Factoring client description: A company whose business is to offer consulting services in telecommunications engineering to various telecom corporations around the world.

Challenge

• Client’s current factoring facility only discounts domestic receivables, ExpoCredit was contacted to factor foreign receivables.
• Debtor Company Policy doesn’t allow payment to third parties.
• Insurance Company declined one of the debtors due to lack of updated financial information.

Solution

• ExpoCredit signed an Intercreditor Agreement with the existing factoring company who was already discounting
US invoices.
• ExpoCredit opened a Joint Bank Account under client’s name but fully controlled by ExpoCredit.
• Customer provided access to private portal in order to verify all client invoices and  relevant information
• ExpoCredit obtained the necessary information from the debtor in order to resubmit for insurance approval

“ExpoCredit was able to overcome the challenges that the telecommunications consulting company faced with their foreign clients,” said Carlos Escobar, President of ExpoCredit. “Our top notch offering of factoring services enabled the client to receive the funds needed to help them continue doing business internationally.”

Industry: Consulting Services in Telecommunication Engineering

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