Documents that will be needed to be sent with invoices will be agreed upon at the outset, and will form part of the factoring agreement. Generally, documents required will be purchase orders, delivery notes and contracts among others.
Whenever, a dispute is raised by your client you will immediately be notified of reason of dispute. Once dispute is settled, you will need to inform us so that we can resume collection services. You are contractually required to settle a dispute within 15 days from notification.
Frequency to send invoices is also agreed at the outset of the contract. Generally, invoices are sent once weekly.
A funding advice is sent to you every time we credit your bank account.
We normally finance within 24hrs from receipt of invoices provided that all conditions have been satisfied.
MCB Factors will provide you with a template letter to notify all your clients. A ‘subrogation’ wording will also need to be affixed on all invoices.
The payment must be addressed to MCB Factors Ltd.
You customer will settle the invoices directly to MCB Factors Ltd.
