Panel Shop Factoring is a financial solution to both your working capital and debtor administration needs. Oxford provides a notification factoring service i.e. debtors will send payments on invoices factored direct to Oxford. Your company can factor approved insurance companies & corporate fleet clients through our service.
How does Panel Shop Factoring work?
- You forward invoices to Oxford together with supporting documents as required in pre-paid envelopes supplied by Oxford.
- Oxford accepts invoices and pays an agreed percentage of funds by Electronic Funds Transfer to your bank account usually within 24 hours of initial receipt. For a small fee you can receive funds within 2 hours.
- Oxford confirms amount factored with you by fax or email.
We advance initially 100% of the invoice value less our flat fee.
Collection of Invoices
Under the Factoring Agreement, Oxford would be ultimately responsible for collection of outstanding invoices factored. Should the invoice be unpaid 90 days from the date we advance funds, your business would have to "repurchase" the invoice and pay Oxford the amount advanced together with our accumulated fees.
Advantages of Oxford's Panel Shop Factoring:
- Improve your cash flow.
- Fastest turnaround time - Same day funding.
- Competitive rates/no additional fees.
- Professional and hassle free service.
- Dedicated teams at your service.
- Spot Factoring.
- Easy & simple to manage.
- Freecall phone & fax.
Oxford Funding is one of Australia's largest and longest service providers of insurance and fleet factoring.
For an obligation free quote or to find out more about Oxford's Panel Shop Factoring speak to us now on 1800 850 509.
Alternatively, feel free to complete a Panel Shop Factoring application form now and fax to 1800 850 510.