What Is Accounts Receivable Confirmation?

Accounts receivable acquisition refers to a bank buying a financial product in which a seller (creditor) of a product under a "commercial contract" has a claim on a receivable owned by a buyer (debtor) of a product and a debtor has recourse.

Accounts receivable acquisition

Right!

Accounts receivable of acquisition

1. Application for accounts receivable acquisition business;

2. Details of accounts receivable;

3. Copy of business contract;

4. A copy of the business license of the enterprise (legal person) who has passed the annual review;

5. Certificate or power of attorney of the corporate legal person, resolutions of the board of directors, and articles of association of the company;

6. Legal opinion issued by an independent law firm on the legal validity and enforceability of the transfer of receivables;

7. Audited financial report for three consecutive years;

1. Creditors and our bank negotiate the details of the business description;

2. The bank reviews the above application materials submitted by creditors;

3. The creditor and our bank signed the receivables purchase agreement;

4. On the day that the creditor stipulated in the agreement transferred the receivable to the bank, the creditor requested the bank to acquire the receivable;

5. The bank issues a confirmation of acquisition to creditors to provide customers with corresponding financing;