re:factor (REFT) ICO

updated 27 November 2018

re:factor is a new way to operate with a unique and liquid asset - trade receivables.

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Status: ended
Public sale: 18 Sep`18-18 Dec`18
Cap: 100 000 ETH
(13 639 000 USD)
Goal: 5 000 ETH
(681 950 USD)
Price: 1 REFT = 7200/1ETH ETH
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About & Featurs

re:factor financial group is a multinational corporation and a global ecosystem under creation, the uniqueness of which lies in the competencies of team members who are internationally recognized professionals in the factoring industry. Technological platform re:factor is based on the public blockchain Ethereum. The platform enables all parties in interest to carry out large-scale effective operations having trade receivables worldwide.

The re:factor system can be described as 4D Factoring, because on the platform, you can:

• sell

• buy

• pledge

• transfer intrust trade receivables

On the re:factor platform:

• buyers and sellers conduct factoring operations and work with accounts receivable online, without intermediaries, with no reference to a specific country or to a bank, while maintaining maximum transparency and security in all operations.

• is a complete replacement of paper documents to electronic document circulation;

• clients and debtors receive three main benefits: tangible improvement in terms of funding; a decrease in the cost of paperwork and storage of documents; protection of information.

The first benefit is a reduction of time from delivery of the goods to obtaining financing. Often this can take days to put in place; with the re:factor platform the payment is effected within a few hours of the goods being confirmed as received by the buyer.

The second benefit of re:factor is saving money on record keeping and storage of documents. Such costs are rarely taken into account in a company but in fact are a tangible expenditure. By way of example, one major retailer, after considering the costs of paper documents circulation and contrasted the cost of the electronic documents circulation, even taking into account the creation 5 of an Internet platform of exchange of documents with suppliers, has moved to electronic documents, reducing expenses on a single document of A4 size by more than 60%.

One of the key benefits of re:factor is providing 100% protection of information storage on executed operations, through the use of blockchain technologies. For investors this gives protection of their interests on the platform, due to the decentralized data storage system that makes it possible to avoid fraudulent actions on behalf of all parties to the transaction, and further falsification of information; for suppliers and buyers it is ability to store and learn from the results of their transactions, to form their own large-scale statistics for the re:factor platform to further improve the model of evaluation and analysis of counterparties and transactions.

Technical Info

This is a comprehensive check of the borrower reliability. The re:factor technological platform provides a full range of services and the interaction of the main participants of the factoring service:

1. Supplier

2. Buyer

3. An investor in trade receivables

re:factor acts as a single point for the consideration of all invoices and transaction processing. The company provides all the participants with a hightech platform for simple and effective interaction in electronic format.

The supplier has the opportunity to pass new customers and receivables for the service (in electronic form with an electronic signature). In addition, he receives information about the limit for each buyer, estimated fee, and other conditions of factoring services. The platform will offer a wide variety of different reports on all transactions conducted online.

The buyer is not a mandatory user of the platform though, but participation in this work gives him additional advantages. For example, when the shipment is being confirmed electronically, the buyer can improve some delivery conditions, i.e. increase the limit and defer payment or reduce the fee.

As for the investor, the platform allows him for a transparent, convenient and efficient investment into receivables. Financial transactions can be managed manually. But it is better to use automated procedures of selection of one’s shares in the limits for the relationship “Supplier-Buyer”, as well as to monitor their account.

The link “Supplier-Buyer” is one of the key elements of the billing subsystem of our platform. All the basic interaction between the parties to the transaction takes place in the framework of this system and on its conditions. Processing and billing of trade receivables (Invoices) is done also through the link “SupplierBuyer”.

In addition to the web version of the platform, specialized mobile applications will be developed for the users.