Case Study Agency Factoring (CHOCS) for Haulage & Courier Business
A medium sized haulage & courier services company contacted CFA and asked us to find them an improved factoring facility. The client's business was suffering due to the poor service that their existing factor was providing and managing the facility was involving the client's staff in a great deal of additional work. This illustrates how difficult it can be to find a factoring company that can provide the quality of service that you are looking for.
CHOCS
CFA managed to find the client a financier that could provide an Agency facility which can also be known and a "CHOCS" facility. This stands for "Customer Handles Own Collections Service".
With this type of facility the client undertakes their own debt chasing work and the factor only provides finance against the sales ledger.
The new facility gave rise to a cost saving for the client and also enabled them to take control of their own sales ledger collection activity.
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