Adossag Borze Kft on Wednesday announced that it will launch an internet debt exchange platform for factoring companies from June. Paying a fixed annual fee, any company can enter into the database basic parameters on the receivables it is offering for sale, which will be exclusively accessible to factors licenced by the financial regulator PSzAF. Debts due or undue, and debts owed by companies under liquidation, winding-up or bankruptcy will all be accepted into the database, managing director Atilla Magyar said. Signing a secrecy statement, potential buyers can have access to the information including the value of the debt, the due date, the subject (e.g. deliveries of goods, transport), the security, and particulars of the creditor and the debtor. Sellers are required to pay annual fees linked to annual revenues; for instance, the fee is HUF 30,000 for revenues of up to HUF 10m, and HUF 1.5m over HUF 50m in sales. Factors using the service will be charged HUF 200,000 per...
