This message contains information such as payment amount and payment time received by the export factor, so that the import factor can make subsequent settlement. In international factoring business, information is generally transmitted between export and import factors through EDI- factoring system.
Factors are usually domestic banks and non-bank professional factoring companies. Except for a few small commercial banks, all domestic banks have international factoring business. In recent years, non-bank factoring companies have developed rapidly in China, and professional factoring companies such as Jiarongxin, Taian and Yinghuan Dongrun have flourished.