ICICI Bank's Factoring performs an important trade finance service by helping you convert your receivables into cash - thus helping you tide over constraints of cash flow and working capital.
Factoring relies on the financial strength, creditworthiness of your customers. Your account receivables in the form of invoices and bills are purchased by ICICI Bank at a discount. Thus, the onus of collection too falls on ICICI Bank and you can focus your attention and effort on the growth of your business.
- Domestic factoring - discounting of non-LC backed domestic invoices/ bills
- Export factoring - discounting of non-LC backed export invoices/bills