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In the world of finance, there is a specialized service known as export factoring. This involves providing a cash advance to businesses that have accounts receivable from their foreign customers. This service is offered by specialized firms, referred to as factors, to exporters who deal with low-value, short-term foreign accounts receivable. The exporter transfers the title of their foreign accounts receivable to the factoring house in exchange for cash at a discounted rate. Along with this, factors also offer services such as foreign credit risk assessment, collection of overdue foreign accounts, and managing accounting ledgers for their clients.
