Altius Helps Provide a Working Capital Solution for Businesses
Bill Discounting is a major trade activity. It helps the seller's get funds earlier on a small fee or discount. Bill discounting helps the business owner to finance his/her unpaid invoices and gets instant cash which further can be used for working capital. Bill or Invoice discounting helps to improve the cash flow from your sales invoices.
Changes in the socio-economic structure and rapid development in society have led to the origin of several start-ups and small business enterprises. These enthusiastic organizations are always in need of proper funding and efficient cash flow to thrive and maintain their expenses. Small businesses that have not been into existence for long, find it difficult to get loans from the bank. They also do not possess enough assets and income in the initial years. Due to a lack of business contacts, they are also not able to attract investors to invest in their business. All these challenges put impediments in their path to success.
Enjoy quick access to funds with our bill discounting service. Receive customised solutions that match your business needs with our bank’s dedicated trade finance set-up, and benefit from our nationwide network of branches and correspondent banks and NBFC’s. Invoice Finance has come up as a strong option to secure short term business financing. It is a way for the business to use their high-value invoices as collateral to borrow money for their expenses.
We try to reach the debtor by email, phone calls and sometimes even by fax, depending on the information at hand. We also attempt to find additional information and trace the debtor in order to get in contact. In some circumstances, agents may be used to trace or visit the debtor's business premises.
When it comes to collecting overdue debts, time really is money. We do accept old invoices but in general, the older the case, the lower the chance of full collection. If the oldest invoice is 180+ days overdue, an extra 2% commission will be charged on top of the standard commission rate after a successful recovery.
If the amicable process is not successful, the collector will assess the case for legal action. This is based on the debtor’s financial status, age of the debt, estimated cost of legal action, available documentation and chance of success. The timescale and cost of legal action will differ by the debtor’s country and the size of the debt. It is the customer’s decision only to proceed with legal action, and costs will be charged back to the customer.
The collector has several ways to reach a settlement on the outstanding debt. This usually depends on the debtor’s situation but settlement conversations are always conducted in a respectful manner. Settlements may result in a repayment plan or a deal proposal (i.e. a discount), if the entire amount cannot be paid at once.
It usually takes about 90 days to handle an amicable case. This sometimes varies based on the status of contact with the debtor. If we are not successful in the amicable phase, we will provide you with our recommendations for further actions.
We only charge commission based on the amount of money we collect. We also apply cost and interests, which are charged to your debtor, at the statutory rate, if that applies based on the country’s respective laws.
There are usually two types of collections:
Domestic case – if we are able to collect these costs and interest, we will pay back this amount to you.
Export case – if we are able to collect cost and interest on export cases (i.e. cases outside of your registered business location), we will retain these costs.
Please note that an extra 2% commission will be charged on top of the standard commission rate for invoices that are 180+ days overdue, upon successful recovery.
Atradius Collections is authorised by you to collect the debt. The debtor will be asked to make payment into an Atradius Collections bank account, before the funds are sent to yours. Our success fees are normally retained by us from any amounts paid by your debtor.
You become a customer as soon as you place a case with us. That means that any payments made by your debtor after our involvement will be subject to our success fees. Please note that our debt collectors immediately initiate debt collection activities.
If you choose to withdraw the case against our recommendation during the amicable phase, a withdrawal fee may apply. However, you can choose to close the file at the end of our amicable phase at no extra charge.
It depends on the country. In general, we do not have any upfront costs. We only charge an introduction fee based on the location of the debtor. This is a one-off fee; following this we only charge commission on successful collection.