FAQ

Here we answer all your factoring questions

Have a look at our frequently asked questions. If your question or answer is not listed here, please contact  us. We are happy to help you.

The most important thing first

You want to know this first

We pay you within 24 hours after approval of your invoice. If you have sent your invoices before 10:30 am, you will be paid the same day.

About factoring

The general questions about factoring

Factoring is an alternative way to finance entrepreneurs. Factoring is selling outstanding invoices to a factoring company. You will receive the amount in your account within 24 hours, so as an entrepreneur you are no longer dependent on the payment term of your debtors. In short, factoring ensures that your invoices become liquid within 24 hours.

Boozt24 works with its own platform. All invoices are automatically imported when you send the invoice to the debtor by e-mail. These invoices are then checked in our system. If the invoices are approved, you will be paid by us within 24 hours.

View our method page for more information.

From quotation to customer

That's how our process works

Request a quote here without obligations. You will receive a response from us within 24 hours, if we think we can help you, you will receive a final quote from us. After this you send us some documents. When you agree, it's settled.

Use our quotation form. Enter the requested information here, it will be sent directly to one of our account managers.

 

You will receive a quote from us within 24 hours.

If you already have financing, then in many cases this financier has a (first) right of pledge on your receivables. In order to use Boozt24, the right of pledge on your invoices must be given up. In consultation with your current financier, you can agree that they will release the right of pledge while retaining the financing.

 

If your current financier does not agree with this, the financing of Boozt24 will have to be used to repay the current financing, so that the right of pledge on your claims is also released. Always discuss this with your current financier.

Yes, we also finance this. We can take over an existing portfolio.

The conditions

The small print of our service.

No, unfortunately we cannot assist you with factoring for invoices to private individuals.

To be eligible for financing with us, you must meet the following five conditions:

  1. Your company is in business for at least two years and you can prove this with annual reports;
  2. You are active in the B2B-market; B2B-markt
  3. You have an outstanding debtor balance of at least €50,000;
  4. You will generate a turnover of at least €500,000 this year.

Yes, we also accept foreign debtors. We do not rule out this possibility, our risk department will decide whether this is possible in your case.

If you want to use our service, your company must be located in the Netherlands and have a Chamber of Commerce number.

It may happen that our credit insurance does not give the green light to your customer. This does not mean that your customer will not pay, this only indicates that our insurer does not want to cover the risks. But this does not mean that you cannot use our service. Depending on your portfolio, the risk department will look at the possibilities.

Costs

Dit is wat je betaalt voor onze dienst.

Bij Boozt24 werken wij met drie types fees:

  1. A one-time fee: To become a customer, you pay a one-off registration fee of 1% of the issued limit, with a minimum of €1,250 (excluding 21% VAT).
  2. Fee on agreed limit: In consultation we will agree on a limit with you, the maximum amount of financing. You pay a fee over the agreed limit.
  3. Fee on financing used: Every day our system calculates the value of your portfolio. You only pay a fee for what you actually use.

For more information about the fees we advise you to contact us. 

Facturen

Onze facturatie proces

Yes, we also finance this. We can take over an existing portfolio.

Yes, we only finance the entire debtor portfolio, so that there is a better spread of risk. This allows us to better finance your company.

We do not finance separate invoices (single invoices). The invoices are sent to your debtors via our platform. This gives us the certainty that invoices have actually been sent to the debtor. Invoices can be sent to us in various ways.

Our system is designed in such a way that the invoices are automatically imported into our platform as soon as you send an invoice to your customer by e-mail. You send an e-mail to the customer with our e-mail address in the cc/bcc, the attachment of the e-mail contains a PDF + UBL (version 2.0 or 2.1). The UBL file allows us to automatically import these invoices.

Yes, your customer will see on the invoice that your invoice has been transferred to Boozt24. Although this is sometimes considered negative, it is not necessarily a negative fact. Entrepreneurs who use financing to further grow their business; many companies see this as a sign of professionalism.

No, you do not have to adjust the layout of your invoice. Just make sure that your account number changes to our account number.

You must also add the following text to the invoice:

 

This invoice has been sold and assigned to Boozt24 Finance B.V. Discharging payment can only be made to Boozt24 Finance B.V. to account number NL..INGB0………...INGB0……….

 

If you have submitted invoices to us, you are insured for 90% against the bankruptcy risk. Provided this debtor has credit insurance. So if your debtor goes bankrupt, you are guaranteed to receive 90% of the invoice value. You therefore pay a 10% excess of the invoice amount yourself.

Boozt24 supports you with automatic reminders, but you keep in touch with the customer. If there is still no payment, you have the choice to buy back the invoice (and you remain in control of your customer relationship) or the invoice will go to our debt collection partner and they will help you collect the invoice.

With us

The additional information

Is there more demand for your product in one season than in another? We think along with you and can temporarily increase the limit. Boozt24 then increases the limit for a minimum period of 3 months to accommodate a seasonal peak. Boozt24 verhoogt dan voor een minimale periode van 3 maanden de limiet om een seizoen piek op te vangen.

Yes, you can keep your own account, but you will get your own account with us where customers pay their invoices, this is called a collection account. After receipt, we will transfer the funds back to your own account. You can therefore keep your own bank account as a payment account.

 

Yes, the invoices are insured against bankruptcy and non-payment. We arrange a policy for you on our platform. Do you already have an existing policy, no problem. We pledge the existing policy to us and when it expires we add you to our policy.

The following mandatory parts must be included on your invoice:

  • Invoice date
  • Unique invoice number (number of invoices consecutively and sequentially)
  • VAT & Chamber of Commerce number
  • Name & address of your company
  • Name & address of your customer
  • Een omschrijving, de hoeveelheid en de aard van het product/dienst dat je geleverd hebt
  • A description, the quantity and the nature of the product/service you have supplied The price excl. VAT and incl. VAT and the VAT amount to be paid. If the reverse charge mechanism applies, you state: “VAT shifted”
  • Payment term / due date (take the term that you have agreed with your customer for this)
  • Debtor number

We do not take over the debtor management. We understand that you like to keep control over your customer relationships. That is why we do not interfere with your debtor management.

When you use Boozt24 financing, you have the obligation to send all invoices via our platform. In addition, it is not allowed to settle invoices with your debtors. The purchased invoices can only be closed through payment by the debtor. For other obligations, please refer to our payment conditions..

We buy international invoices, provided the invoice is sent from a Dutch entity.

We only contact your debtor on a random basis. We do this to verify invoices.

Focus on growing your business

Quickly convert your turnover into working capital through factoring