International Transactions

Tera Finans Faktoring A.Ş. aims to facilitate its clients' international trade, increase foreign trade volume, and offer a fast collection system by leveraging the correspondent network of Factors Chain International (FCI) — an organization with over 400 members in more than 90 countries: https://fci.nl.

Our International Factoring Services Include:

• 100% guarantee, collection, receivables management, and optional financing for export sales conducted on open account or cash against goods basis.

• Receivables arising from export transactions are secured and collected through our correspondents, providing a 100% guarantee against the risk of non-payment by the buyer (debtor) at maturity.

• Our correspondents provide updated credit information on existing and potential buyers.

• Services include monitoring and record-keeping of receivables and collections by our correspondent.

• Open account receivables can be converted into cash, helping to meet working capital needs.

• Offers a reliable solution for companies wishing to expand volume beyond traditional methods such as prepayment, letters of credit, documentary collections, and bank-guaranteed drafts.

• In case of disputes between the exporter and the buyer, both the export and import factors provide support with legal, regulatory, and language matters.

• Upon request, financing services are provided for the export of goods or services.

Steps to Follow for Export Factoring:

Limit Application

• Using the "Buyer – Seller Information Forms" available on our website, you notify us of the buyer's details. Based on this information, we apply to our correspondent.

• All information that may affect the correspondent’s credit decision must be provided in full (outstanding debts, past disputes, creditworthiness, etc.).

• After evaluation, a preliminary credit limit is established for your buyer and operating conditions are determined.

• The correspondent’s limit approval is formally communicated to you in writing through a Limit Approval Form (LOB).

Contract Signing

• Based on the correspondent’s pre-approved limit, a pricing offer including the guarantee commission and funding cost is presented to clients seeking financing. Upon acceptance, a contract is signed.

Shipment

• For shipments made to buyers subject to factoring, a copy of the assigned invoices (with stickers applied) must be sent to Tera Finans Faktoring along with the shipment documents.

Advance Payment

• Up to 80% of the invoice amount in foreign currency is paid in advance for invoices assigned to us.

Balance Payment

• Once the buyer pays the invoice amount to the correspondent at maturity, the correspondent makes the payment to us.

• After deducting previously paid advances, fees, interest, commission, and other charges, the remaining balance is paid to the seller.

Guarantee Payment

• In cases where the foreign buyer declares bankruptcy, experiences financial difficulty, or fails to pay without valid reason, the correspondent pays the full invoice amount within 90 days after the invoice due date, subject to the approved guarantee limit.

Documents Required for Guarantee Payment (upon correspondent request):

1. Notification Transfer of Receivables (NTR): Signed copies listing the assigned export invoices and signed by authorized personnel.

2. Two copies of Commercial Invoices with transfer notice, company stamp, and authorized signatures (must include correspondent’s assignment label and be prepared per BRSA invoicing standards).

3. Buyer-Approved Purchase Order

4. Copy of Shipping Documents

5. Copy of Customs Declaration

6. Buyer-Approved Shipping Documents

7. Original Introductory Letter (submitted to us for the first factoring transaction with the buyer)

8. Packing List

9. All correspondence with the buyer related to the receivable

10. Inspection Company Report (if applicable)

11. Any other document related to the receivable that may be requested by the correspondent

Countries Where We Offer Factoring Services
(For the full list, click here: https://fci.nl/en/members/index)