The following are descriptions of the main applied fees/charges that you will come across in your dealings with Bibby Financial Services.
Factoring Fee:
This is the fee charged for the sales ledger administration that we perform on your account. Essentially it covers all of the collections work including the processing of invoices and chasing of debtors etc. This is charged as a percentage of the invoice schedule that we receive.
Please note this charge does not apply on credit note schedules.
Discount Fee:
This charge is calculated on the amount of money that we advance to you. It is charged on the cleared current account balance and is calculated at the agreed margin above LIBOR, which is the inter-bank rate. The rate that the banks borrow from each other.
Administration Fee:
This is a fee charged at the time of sanction of factoring facilities. It is charged as a percentage of the total credit limit sanctioned.
If you have any questions regarding the charges on your account please speak to your client manager who will be able to assist with any questions you may have.