Confidential Invoice Discounting (CID) is one of the most popular types of Invoice Discounting, it differs from regular Invoice Discounting due to the fact the service is completely undisclosed to your Customers. This is a very appealing factor for businesses and, as such, the following conditions to Confidential Invoice Discounting facilities;
- CID is only available to well established businesses that are well run and have a history of profitable trading.
- They should be turning over £300,000 per annum, have a net worth of at least £30k and their sales ledger/credit control functions be fully computerised.
- Typical service charges are 0.1% - 1% of turnover and interest costs of 1% to 2% over base.