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Robin Joensuu Sweden Local time: 20:58 Member English to Swedish + ...
Nov 17, 2015
I will relocate to Germany in January and I am trying to wrap my head around the business aspects of moving.
When I do work in Sweden I sell my invoices to a factoring firm for 95% of the invoiced amount. In return they take the risk of non-payment from the client and pay me the money almost right away. Some factoring firms even pay on the same day as they receive the invoice.
So my questions are: Are there similar firms in Germany? How does it work? How much do they c... See more
I will relocate to Germany in January and I am trying to wrap my head around the business aspects of moving.
When I do work in Sweden I sell my invoices to a factoring firm for 95% of the invoiced amount. In return they take the risk of non-payment from the client and pay me the money almost right away. Some factoring firms even pay on the same day as they receive the invoice.
So my questions are: Are there similar firms in Germany? How does it work? How much do they charge? Which have the best terms?
I have tried finding info myself, but it is a bit tricky with my so far quite limited German. Any tips are welcome.
Never heard of that. I do not think that this sort of companies exist in Germany (nor France). The risk is always yours.
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Robin Joensuu Sweden Local time: 20:58 Member English to Swedish + ...
TOPIC STARTER
There are plenty, apparently
Nov 17, 2015
Hi Andrea,
Thank you for the reply.
Actually, they are quite common. I finally found some info (I am impatient). The first one I found is actually a Swedish company, which is quite funny. And after doing a bit of math, it seems like they are cheaper than the one I use at the moment - i.e. only 3-4% of the invoiced amount (before taxes) and they pay after 1-2 days after approved invoice, if I got it right. Not bad at all... See more
Hi Andrea,
Thank you for the reply.
Actually, they are quite common. I finally found some info (I am impatient). The first one I found is actually a Swedish company, which is quite funny. And after doing a bit of math, it seems like they are cheaper than the one I use at the moment - i.e. only 3-4% of the invoiced amount (before taxes) and they pay after 1-2 days after approved invoice, if I got it right. Not bad at all.
I know that there are some factoring firms who only do this for an additional charge and a longer turnaround time per invoice where they do a client check. ▲ Collapse
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