What we are
IFCI Factors Limited (erstwhile Foremost Factors Limited) is a subsidiary of IFCI Limited, which is a leading financial institution of India.
Building relationships is vital to your business prospects. For us, this means getting to know you as a client in detail even before you appoint us. Once a relationship is established, we keep ourselves fully up to date at all times with your business and your customers. We become one of your main business partners and ensure highest quality of service delivery to you thus enabling you to stay ahead in a highly competitive global market.
IFCI Factors Limited – Key Strength Areas
The key factors which help distinguish IFCI Factors Limited as one of the finest factoring service provider are as follows:
At IFCI Factors Limited, we believe in proactively developing strong and lasting relationships with our clients, their buyers and our correspondent factors (for export factoring). We continuously endeavor to develop transaction structures that best meet the needs of our clients as well as their buyers.
- Reliability:Being the pioneers in bringing International Factoring to India, we have had a rich experience of over fourteen years behind us which enables us to understand the needs of our clients in the context of their market and service them in the best possible way.
We provide innovative, customized solutions which are driven by a forward looking management style, sound understanding of the key credit issues and a thorough understanding of market practices.
- Service Quality:
A lean organisation structure supported by an internationally recognised top of the line software platform ensures operational efficiency and translates into delivery of high quality services to customers.
- Turnaround Time: IFCI Factors Limited prides itself in responding quickly to the demands of its customers, which in turn empowers them to capitalise on the attractive opportunities offered by an ever dynamic market.
- Consistency: With a strong infrastructure and efficient operations, IFCI Factors Limited is able to maintain high service levels related to providing timely funding, follow up for collections, credit protection and management information.
- Reasonable Charges:
At IFCI Factors Limited, we recognise the importance of value for money. This means providing quality services at a reasonable and affordable cost. The factoring charges typically comprise of the following:
- Discount Charge: This is levied at the month end based on actual fund utilisation by the client.
- Service Charge: This is levied at a flat rate on the gross invoice value. It covers the cost of credit protection (where specified), sales ledger administration, processing and collections.