Factor: A description for the factor job

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Factor: Factors (purchases at discount) accounts receivable from businesses needing operating capital: Directs collection of facts about prospective client’s business, for example credit rating of customers, evaluation of past losses, terms of sales, due dates, average amount of invoices, and expected volume and turnover of accounts receivable. Evaluates data collected to determine type of factoring plan to propose and percentage of net face value of accounts to advance which will yield favorable profit margin and alleviate client’s cash shortage. Determines charge from fee schedule. Explains factoring agreement to client. Prepares and signs contract specifying terms of agreement and rights and obligations of both parties. May also provide clients with other business services, for example credit and collection services, accounts receivable bookkeeping, and management consulting, on contract or fee basis. May also specialize in factoring agreements in one or more industries.

Job industry: financial industry

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