CariChieti and SACE Fct, the factoring company of the SACE Group, have signed an agreement which will allow the client companies of the Abruzzo bank to sell the receivables due from Public Administration (PA) entities, making available a ceiling of €60 million.
As part of the agreement, the Abruzzo companies will be able to contact the 70 CariChieti branches to activate the reverse factoring services offered by SACE Fct: a system that guarantees the supplier of affiliated PA bodies the collection of the invoice (relating to receivables certified by the institution) by the expiry date.
"With the agreement signed today, the SMEs of Abruzzo will have easier access to the services of SACE Fct - explained Franco Pagliardi, General Manager of SACE Fct -, to the full advantage of their liquidity. We are pleased to be able to strengthen our commitment in Abruzzo alongside one of the major credit institutions in the region, which relies on a strong presence in the area and a historical relationship with the local entrepreneurial fabric."
“It is an agreement in defense of companies with good economic prospects – he declared Roberto Sbrolli, General Manager of CariChieti– but struggling due to late payments. A concrete response to CariChieti's role as a local bank.”
The partnership between CariChieti and SACE Fct will be strengthened bycooperation agreement signed today with Reeds Abruzzo, represented by the President Antonio D'Intino. As part of the agreement, the parties undertake to cooperate to promote the offer of reverse factoring services among the construction companies associated with Ance Abruzzo, which will be able to dispose of their receivables directly at the CariChieti branches on favorable terms.
The full press release is available in the attachment.
Attachments: 20120905 CS – CariChieti-SACE Agreement Fct.doc
