Payment obligations that seem like liabilities may actually be assets.
CFS believes that responsible financial management includes managing payment obligations for the benefit of the company and its stakeholders.
At CFS, our mission is to help our customers immediately convert outstanding payment obligations into income and cash.
Each year, companies forgo millions of dollars of operating income and cash by not implementing an appropriate strategy for dealing with their outstanding checks and other payment obligations. Too many companies simply ignore unclaimed payment obligations until these payment obligations are presumed abandoned and seized by a state. It does not need to be this way.
Rather than ignoring aging and unclaimed payment obligations, CFS believes that payment obligations should be managed. These payment obligations can be delegated to CFS. The result is that the delegating company immediately increases its income and cash position, while protecting the rights of payees: the company’s customers, vendors, and investors.
Importantly, state unclaimed property laws will not interfere with the CFS transaction nor negate any of its benefits. Moreover, using CFS’s service simplifies and ensures regulatory compliance.
Responsible CFOs choose CFS to increase income, improve cash flow, and ensure regulatory compliance.
How It Works
CFS’s solution works for all kinds of payment obligations: premium refunds, utility deposits, lawsuit proceeds, wages, etc.
Payees are protected. They can always get their payment easily.
CFS and its Client sign a simple agreement.
The Client identifies an aging pool of outstanding checks.
Client delegates the payment obligation to CFS.
CFS assumes the obligation on the checks.
CFS is paid a fee.
Amounts delegated to CFS become income and cash for the Client.
CFS assumes the payment obligation unequivocally.
CFS funds the Client’s account.
All future redemptions of delegated checks are paid in-full with CFS’s funds.
Procrastinating payees can always cash their checks.
Payees can cash their checks in the customary manner.
Payee rights and privacy are protected.
A payee’s right to payment is never seized by a state.
The CFS Client enjoys simple, full regulatory compliance.
Why choose CFS to convert your outstanding payment obligations into profits?
1. The CFS program is very easy to implement, with extremely low execution risk.
2. CFS’s liability assumption is unequivocal and complete. For example, CFS assumes all liability on delegated checks, including the underlying contractual obligation for which the check was issued. If a payee requests a replacement check, CFS is liable for the reissued check too.
3. CFS pays whenever a transferred check is presented for payment.
4. The risk of nonpayment of checks is virtually nonexistent because CFS funds the account on which the checks were written.
5. CFS is alone responsible for any state unclaimed property reporting.
6. CFS Clients enjoy full regulatory compliance with no reporting or payment obligation to any state with respect to the transferred payment obligations.
7. Your customers, suppliers, and service providers will stay happy. Even procrastinating payees can redeem their payment obligations as they would in the ordinary course of business.
Have Questions?
Thank You.
5 Ausiàs March Square
1st Floor 2nd Door
08195 Sant Cugat del Vallès
Barcelona – SPAIN
Email:
info@checkfinancialservices.com
U.S. Phone:
(667) 217 4284