A seller who is willing to benefit from factoring services notifies the factoring company of its present/future receivables arising from the sales of goods and services together with necessary information and documents. After reviewing such documents, the factoring company presents to the seller a quote that describes the services to be performed and the commission and fees to be charged. A Factoring Agreement is executed by and between the factoring company and the seller. The seller assigns invoice or similar document evidencing the receivables to the factoring company.

 An advance payment (pre-payment) may be made by the factor upon the seller’s request, pursuant to the conditions of the Factoring Agreement.