BCR Chisinau: BCR Chisinau launches an innovative product to facilitate trade transactions - Factoring

BCR Chisinau: BCR Chisinau launches an innovative product to facilitate trade transactions - Factoring

• 20.12.2012

Starting with December 20th 2012, BCR Chisinau offers, for the first time on the Moldovan banking market, a new short term financing solution based on invoices, without material guarantees, destined to suppliers of goods and services based on firm commercial agreements with deferred payment (trade credit). Companies which choose the new FACTORING product from BCR Chisinau will have access to a complex set of services: financing, invoices administration, debt collection, debtor’s default risk coverage.

Companies need time saving and business safety when performing current activities. FACTORING is a solution which allows avoiding financial bottlenecks, which ensures efficient use of financial, human and time resources, reinforces partnerships and cash collection.

FACTORING product allows as well enlarging company business on new international markets under secured conditions being protected against debtor’s default risk, which is covered by BCR Chisinau in cooperation with factoring companies/ banks which are members of Factors Chain International, one of the largest factoring networks present in 71 countries.

”Starting with January 2012 BCR Chisinau is a direct member of Factors Chain International, being the single Moldovan bank to offer external factoring services to local exporters and importers. By launching external and internal factoring services, our clients and other interested companies obtain a quick, secured and advantageous sales financing solution from BCR Chisinau. We aim to offer our support to viable business in order to reinforce stable and long term partnerships, facilitate internal and external trade, by using BCR experience in Romania and Erste Group experience in Central and Eastern Europe”, said Sorin Andrei, CEO of BCR Chisinau.

Companies can opt, based on services included, for internal factoring with recourse or external export factoring without recourse offered by BCR Chisinau. Internal FACTORING will be applied to trade transactions between residents of the Republic of Moldova, through ceding receivables in favor of the Bank and receiving financing, invoice administration and debt collection services. External FACTORING will be applied to export-import transactions and offers additionally protection against external debtor’s default risk.

Banca Comercială Română Chişinău

Banca Comerciala Română Chişinău S.A. is a universal commercial bank, established in the Republic of Moldova on October 22, 1998. The single shareholder of the bank is BCR SA, the leading banking organization in Romania; member of Erste Group, one of the largest financial providers in Central and Eastern Europe.