• Importer applies at LTS for a trade finance transaction
• Presents all documents required to LTS
• Pay fees to LTS for establishing the trade finance file
• LTS assesses the risks involved
• LTS sends application to the credit insurance
• Credit insurance studies the application, if approved
• Issues policy in favor of the Factor
• Importer pays insurance fees.
• Factor pays the supplier.
• Client pays the margin of the invoice, and factoring fees
• Client signs promissory note.
• Supplier ships goods
• Supplier presents documents to Factor
• Factor endorse Bill of Lading(B/L) and send documents to LTS
• LTS delivers documents to importer
• Importer receives good
• Importer at maturity of the Promissory note pays his bill to the factor.
