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 een alternatieve financiering voor ondernemers. Factoring is het verkopen van openstaande facturen aan een factoringmaatschappij. Je krijgt het bedrag binnen 24 uur op je rekening, zo ben je als ondernemer niet langer afhankelijk van de betalingstermijn van jouw debiteuren. Kortom factoring zorgt er voor dat jouw facturen binnen 24 uur liquide worden.
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.
Within 24 hours you will receive a quote from us.
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 four conditions:
- Your company is in business for at least two years and you can prove this with annual reports;
- You are active in the B2B-market
- You have an outstanding debtor balance of at least €50,000;
- You will generate a turnover of at least €500,000 this year.
View our method.
If you want to use our service, your company must be located in the Netherlands and have a Chamber of Commerce number.
Costs
This is what you pay for our service
At Boozt24 we work with three types of fees::
- 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).
- 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.
- 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.
Invoices
Our billing process
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.
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.
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