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Export Factoring with Recourse


How to Obtain a Factoring Service?

In order to use the factoring service, you need to fill out a questionnaire and an application for foreign buyer’s limit and to submit them together with the required documentation at DBNM.
Upon application approval, a factoring agreement shall be concluded (certified by a notary public).
Each invoice shall be declared at DBNM, on basis of which payment shall be made (advance payment of 80% of the invoice value) on the client’s/exporter’s account.
Beneficiaries of the factoring facility may be companies registered in the Republic of North Macedonia which sale goods and provide services abroad with deferred payment not exceeding 180 days.
In case the foreign buyer does not pay within 90 days of invoice due date, the recourse shall be risen (DBNM will return the receivable to the client). Regular interest of 4% per annum shall be calculated for those 90 days and legal default interest shall be charged upon rising of the recourse.

Cost of Factoring
The price of factoring is calculated on the basis of the advance payment of 80% of the invoice value and comprises of:

  • Interest rate of 4% p.a. (interest is calculated on the advanced payment of 80% of the invoice value by using the actual number of days)
  • Service charge of 0.2% one-off (the fee is calculated for the whole amount of the invoice)