Vendor Factoring Facility
In today’s scenario, many of the manufacturing companies outsource their component manufacturing /services with a view to maintain cost effectiveness, inventory management, etc.
Vendor Factoring Facility introduced by SBIGFL helps Vendors from SME/MSME sector.
Features of Vendor Factoring Facility :
- Vendor Factoring Facility will be extended by SBIGFL to small players in the market, supplying to those corporates having strong financials/external credit rating.
- The facility is primarily extended to ‘Vendors’ with the ‘Buyer’ (usually an Industry Major) undertaking to settle the dues on the due date.
- The Facility sanctioned to the ‘Vendors’ will be ‘With Recourse’ to them. The primary liability to pay the invoices factored by SBIGFL will be that of the ‘Buyer’
