1. Factoring companies are financial institutions that provide factoring services.

business scope of factoring company: factoring business is a comprehensive financial service integrating trade financing, business credit investigation, accounts receivable management and credit risk taking.

an insurance company refers to a company as a legal person established in accordance with the insurance law and the company law. Insurance companies collect premiums, invest the capital from premiums in bonds, stocks, loans and other assets, and use the income from these assets to pay the insurance compensation determined in the policy.

through the above business, insurance companies can get high returns on investment and provide appropriate insurance services to customers at lower premiums, thus making profits.

an insurance company is an insurer in the form of company organization, which deals in insurance business. An insurer in an insurance relationship has the right to collect insurance premiums and establish insurance premium funds. At the same time, when an insured accident occurs, it is obligated to compensate the insured for economic losses.

An insurance company is a company that sells insurance contracts and provides risk protection. An insurance company refers to an economic organization that operates the insurance industry. Insurance companies refer to commercial insurance companies established with the approval of China Insurance Regulatory Authority and registered according to law, including direct insurance companies and reinsurance companies.

Joint-stock insurance companies

Similar to joint-stock companies in other industries, joint-stock insurance companies are established by promoters according to the Company Law, which specifies the number of promoters, the limit of the company's debts, the types of shares to be issued, taxes, business scope, the company's power, application procedures and company license. The company organization in western developed countries consists of three power groups, namely shareholders, board of directors and senior managers.

mutual insurance company

a mutual insurance company is also a form of company organization, but it is a non-profit company with no shareholders, and the company is owned by the policyholder (policyholder). Therefore, the insured has a dual identity, both as the owner of the company and as the customer of the company. The shareholders of a joint-stock insurance company are not necessarily the customers of the company. As the owner, the insured of the mutual company can participate in the election of the board of directors, and the board of directors appoints the senior management personnel of the company to specialize in the business operation and management of the company. The insured can share the operating results in the form of "bonus".

exclusive insurance company

an insurance company established by an industrial and commercial enterprise to insure or reinsurance the risks of the enterprise, affiliated enterprises and other related enterprises.

Precautions for factoring companies:

1. The buyer (importer) must have a good reputation or credit, so that the import factor can verify a certain credit limit for it, otherwise it will not be accepted.

2. Before continuing the factoring business, a lot of work such as these applications, credit evaluation, and credit line verification must be done before the export contract is formally signed.

3. Only when the export factor agrees with the exporter to handle the factoring business, that is, after the export factor has approved the credit line for the importer, can the foreign trade contract be formally signed or the goods be shipped.

4. Pay attention to the usage of the importer's credit line (balance status) and the changes of its credit status. Keep effective communication with export factors at all times.