Financial Handbook

See also
order debt collection
use factoring
use leasing


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Questions and answers

  • Factor – the financial institution granting the financing
  • Client, Factorer – the company using the factoring service
  • Customer – the business partner that the Client delivers goods or services to, the factoring debtor.

No, it is not an obstacle. Yet, on the stage of preparation of the transaction the Factor should be informed on their amount, on the concluded settlements or on the payment schedules with the public law institutions.

In recourse factoring, the Factor finances the receivable and after its payment term pursues payment from the Customer. If in the time agreed before this activity is not successful, the Factor takes advantage of the recourse claim towards the Client, usually deducting the amount paid before from the next receivables reported to the Factor. It means that it is the Client that bears the insolvency risk.

In non-recourse factoring, the Factor takes over the risk of insolvency of the Customer up to the amount of the limit granted by the insurer and thus it does not exercise recourse in relation to the means of the Client after the payment term of the invoice.


It is one of the most deep-rooted stereotypes relating to factoring. The Factor cares about payment discipline of the Customers on behalf of its Client but it selects its actions reasonably, so as not to disturb cooperation of the Client with the Customer. It is also in the interest of the Factor servicing the transaction.

Yes, it is possible, for such solutions we have prepared all variants of simplified factoring, both recourse and non-recourse one

In our offer, we have the entire range of solutions and it is the Client that decides which of them is the most comfortable. In the aforementioned simplified model, the Client not only selects the Customers, for which it orders factoring, but it may also select the individual receivables to be financed.

In such case, we offer classical dispersed factoring, with – which is worth emphasising – much less restrictive requirements than the banking factors. It is also the most affordable service among our factoring solutions, which ensures stable source of working capital and may be an alternative for credit solutions.

Certainly; it is perceived as good for development of factoring cooperation. The Client disposes of the next receivables and improves the liquidity while the Factor obtains diversification of the sources of payments.


It is a comfortable situation for all parties to the transaction. We can base on the limit decision of the insurer and grant financing up to the amount of the granting limits, signing a trilateral understanding between the Client, the insurer and the Factor. At the same time, the Factor makes sure, on behalf of the Client, that all terms & conditions imposed in the policy are fulfilled, so that in case of reporting of a claim to the insurer the Client is sure that the indemnity will be paid.


Yes, we are prepared to service the portfolio of receivables of the Client in a complex way. After examination and assessment of the receivables by our Advisors, we refer a part of the cases to debt collection, participating actively on every stage of their recovery. For the balance of the overdue payments, the Client may also obtain an advance for future payments of the debtors. We may accept other non-payable invoices for financing; the variant of the factoring service will be proposed in response to the needs reported by the Client.


In such cases, we offer financing of the entire process, from purchase of materials up to sale with deferred payment term. It is a favourable solution both for the Client and for the Factor. The first one obtains complex financing in one financial institution, covering the entire cycle: purchase of raw material – manufacture – sale – inflow of receivables, thus avoiding the complex and long-lasting verification process in several banking institutions. On the other hand, the Factor has control over the means engaged by it for purchase of raw material and possibility of effective monitoring of payment as of its occurrence.

Yes, certainly. We may offer maturity factoring, in which if within the payment term of the receivable there is no payment from the Customer, the Factor will send the means for the payable receivable to the account of the Client. Thus, the Client may be sure that it will receive the means within the agreed term and secures its enterprise against payment jams.

We may verify the potential Customer not only in terms of creditworthiness for sale with deferred payment term, suggesting the safe value of the trade credit, but also check whether historically there have been the cases of payment jams, bailiff enforcement, etc. We may also check whether the given Customer will be covered by the insurance limit.

We offer free 24-hour a day Internet access with authorisation key. By logging in our website, the Client sees all operations with the Factor and with the Customers, the costs of the service and first of all the amount of the available means at a given moment.

The same system is used for sending of appendices, including also invoices, goods receipt confirmations or entire sets of receivables, including service of bulk payments.

One of the ideas that we have been following upon creation of the solutions offered by us is clearness of fees. We do not have multi-page tables of additional fees or hidden or unexpected costs, which the Client may not avoid in any way in the course of cooperation. We calculate the cost of our service in an easy way, as the cost of acquisition of capital per month or year, not breaking it down into numerous commissions, margins or the aforementioned additional fees.

The preliminary quotation may be provided even on the same day – our Advisor will ask a couple of questions relating to the financial situation of the Client, the form of the transactions and the Customer(s) proposed for factoring. If you expect a binding quotation, you should send us your current financial documents and provide the information requested by our Advisor. The time of the verification is 24-48 h.

As a standard, 2 blank promissory notes and assignment of receivables. Depending on the level of complexity of the transactions and estimation of risk, there may also be sureties or security interests.

Basically, the debt collection process is divided into three stages: 1) amicable, 2) court, 3) bailiff. Debt collection commenced on the amicable stage is the most effective. On this stage, actions in the direct neighbourhood of the debtor and personal negotiations are conducted and the schedule of payments is agreed.
In case of a need to obtain the order for payment, PRAGMA incurs the cost of representation of the creditor before court and conducts complex proceedings. On the stage of bailiff enforcement, a representative of PRAGMA participates actively in the activities, indicating the assets of the debtor allowing for satisfaction of the debt.

Each Client of PRAGMA has an assigned Account Manager who has all information relating to the pending debt collection process. The Account Manager prepares reports from actions for the creditor and answers the questions on an ongoing basis. With the view to facilitation of the access to information, we have also created the ‘client zone’. Our clients have online access to the conducted actions.

The actions conducted by PRAGMA are distinguished by great effectiveness which results from intensively conducted field actions. We conduct our actions on the area of the whole country. Our expanded departments – the Debt Collection Department and the Legal Department handle thousands of taken over receivables as well as court and bailiff proceedings. Contrary to our competition, we credit court fees for petitions of our clients.

Yes. PRAGMA conducts the processes of restructuring of the debt of enterprises. In simplification, this process consists in takeover of the liabilities of the debtor from their creditors and spreading of the payment into instalments allowing for further functioning of the enterprise of the debtor. In case of interest in such service, please contact us through the contact form on the website or through telephone or e-mail contact.


As a rule, yes. However if the debt collection was ordered on the basis of the receivable transfer agreement (including trust assignment), before referring of the case to PRAGMA it is necessary to terminate the agreement and to make sure that the previous company delivers the reverse assignment of receivable.

The terms & conditions contained in the agreement are the guarantee. We always transfer the means to the Client to the indicated account. We attach the bank statement or a confirmation of the debtor, which the recovered amount results from. If very often happens that the debtor pays the means to the account of the creditor. In such situations, we expect information from our business partner. The agreement that we conclude with the clients requires trust and credibility from both sides.

Your claim is already prescribed. Certainly, you may file a petition for payment. The court will issue the order for payment but the debtor may raise an objection, in which they will indicate the fact of the prescription, and the suit will be dismissed. There is some probability that if the debtor had ineffective enforcement several times, they will not raise the objection; in such case, you will receive a legally valid order and the claim will be legitimate again. The new prescription period will be ten years.

This question cannot be answered in an unambiguous way. Every situation is different and should be treated individually. Debt collection company dealing with debt collection professionally have proper knowledge and experienced personnel, so certainly ordering of the debt collection will be more effective than taking of actions aimed at debt recovery by yourself.

As an experienced debt collection company we know that such debt collection actions are not effective. Our philosophy is direct contact with the debtor, so our actions are conducted in the direct neighbourhood of the debtor.

No. The principle of operation of PRAGMA is charging of the success fee, i.e. a percentage on the value of payments of the debtor, determined in the agreement.

Yes. We offer crediting of the court entry fee for our clients. You can also use legal representation and legal assistance. Our clients do not incur any additional costs connected with legal service. In such case, it is better to order recovery of the receivable to a professional company than to collect it by yourself since it may spoil your personal relations with the employees of the company of the debtor.

If you refer the case to the bailiff, you have no influence on the conducted enforcement actions. Ordering the case to PRAGMA, you have a guarantee of active participation in the bailiff proceedings. We indicate hidden property of the debtors to the bailiffs very often. This is why our clients have the guarantee of participation of specialists in bailiff actions.

PRAGMA has the status of a public company, which guarantees its credibility and transparency. Its high share capital – PLN 3.680 million and equity – PLN 57 million ensures safety of settlements. It guarantees safety of the entrusted receivables.

PRAGMA deals not only with performance of debt collection actions but also with purchase of receivables. As a company with high working capital, we offer also factoring and financing services to the clients.

Sale of receivables is the best way for recovery of frozen capital. Thanks to it, the creditor recovers their means within several days, which immediately improves liquidity.

There are a lot of legal offices and companies dealing with debt collection on the market. However, lack of the field debt collection team is a disadvantage of the legal offices. On the other hand, small debt collection companies do not have their own lawyers who take actions before court. They often demand payment of an advance for the conducted proceedings as well. PRAGMA has a team for pursuing of claims, consisting of 49 members.

PRAGMA does not require provision of all invoices in relation to a given business partner. Our Client may determine the invoices provided to us for factoring. We always try to conduct our actions in a flexible way adjusted to the needs and requirements of the served business partners.

You should not expose yourself to additional costs and block the financial liquidity of the company. If it is possible, the receivables should be sold. Such situation will provide the expected financial means in short time. PRAGMA applies also acceptance of the debt collection order with advance option. It means that within several days from the date of signing of the agreement the creditor obtains the means as an advance for future recovered payments of the debtor.

Yes. We conduct the debt restructuring process. This process consists in takeover of the liabilities of the debtor from their creditor and spreading of the payment into instalments allowing for further functioning of your enterprise.

If you present a security for the paid amount, granting of the loan is possible. Real estates, movables or receivables may be the security.


In our offer of simplified factoring, we do not impose such requirements on our clients as banks or factoring companies. PRAGMA accepts factoring orders even in relation to one business partner.

Loss may constitute the basis for a refusal to grant factoring but does not have to. If the general condition of your customer does not create the threats of the lack of payment, in such case PRAGMA may finance the transaction.

For the performed services, PRAGMA issues VAT invoices. Our clients may include remuneration of the company in tax-deductible costs.

Contact forms are made available on the website of the company. After their completion, you will be contacted by a representative of our company.
You can also send a request for quotation to the e-mail address of the company: or contact us via the telephone to the number: +48 32 45 00 100 or to the infoline number: 801 020 120.
After presentation of basic information relating to the receivable, the employee will prepare a detailed individual offer for the interested Client.

Contact form on the website: and/or


tel. +48 32 44 20 200 | mail


tel. +48 32 45 00 100 | mail


tel. +48 32 44 20 280 | mail


tel. +48 32 45 00 100 | mail


801 020 120

Leasing is a word coming from English ‘lease’. Leasing as a type of agreement occurred in the 50s in the USA.

Leasing is a form of financing, where under the agreement one party, i.e. the lessor (financing party) provides the other party, i.e. the lessee (using party) with investment goods. In exchange of determined payments (leasing instalments), the lessee obtains the rights to use of the leasing object and to get benefits on this account (income). The financing party (lessor) remains the owner of the leasing object.

The economic reality has formed a lot of types of leasing agreements that do not fall into one legal and tax qualification. This transaction is to great extent based on the legal principle of freedom of agreements.

Anyway, Poland is one of the countries that have regulated leasing in the Civil Code:
Under the leasing agreement the financing party undertakes – within the scope of activity of its enterprise – to purchase an object from a specified seller on the terms & conditions determined in this agreement and to provide this object to the using party for use or for use and for getting of benefits for definite time while the using party undertakes to pay monetary compensation to the financing party, in agreed instalments, equal at least to the price or remuneration on account of the purchase of the object by the financing party.

For tax purposes, leasing agreement is described in a wider manner than the definition presented above. In compliance with tax law, leasing agreement is any other agreement, under which the financing party provides fixed assets or intangible assets, including land, being subject to amortisation, to the using party for its use.

Operating leasing

It is the most popular and the most frequent type of leasing. It is characterised by simplicity of posting and tax benefits. The initial rent, i.e. the initial payment, as well as the entire leasing instalments are the tax-deductible cost for the lessee. After expiry of the agreement which lasts usually 24 – 60 months, the using party has the possibility to repurchase the object, usually for its symbolic value, e.g.: 1%.

Financial leasing

In tax terms, it resembles more a credit. The amortisation write-offs and the interest part of the leasing instalments are the tax cost for the using party. Financial leasing is treated as delivery of goods (contrary to the operating one that is a service) and thus the lessee pays VAT according to the rate that the leasing object is covered by. This is why financial leasing is often used by entrepreneurs wishing to finance objects covered by lower VAT rate, e.g.: medical devices with 8% VAT rate.


In operating leasing, both the initial payment and the entire monthly instalments are the cost. On the other hand, the using party does not amortise the fixed asset being the leasing object. Also the repurchase value is included in tax-deductible costs if it does not exceed the amount of PLN 3.5 thousand.

Our company specialises in financing of all types of devices, from IT equipment through gastronomic, construction, medical and other devices up to bicycles, by leasing.
It is possible to buy additionally software or accessories to every fixed asset, which will also be included in the leasing agreement.
We do not provide leasing for registered vehicles

Regardless of the purchase object, the minimum agreement value is PLN 1 thousand net while the maximum value – PLN 30 thousand net.

The leasing term depends on the type of devices and on their amortisation rate. It is as follows for the individual groups:

  • IT equipment – 18-36 months
  • photocopiers, office equipment, gastronomic devices – 24-48 months
  • photographic equipment – 36 months
  • TV sets, projectors, studio technique – 24-48 months.

LeaseLink partners – both e-commerce and stationary outlets as well as call centre.

You can choose leasing in the payment methods of Internet shops being our partners – then, from the shopping basket you get automatically transferred to our ON-LINE application, in which you will arrange all formalities without the need to deliver any documents within 15 minutes.

In the companies of our Partners or through the Call Centre, when you ask for payment in the form of leasing for the realised purchases, you will receive a link, through which you will be transferred to our ON-LINE application, in which you will arrange all formalities without the need to deliver any documents within 15 minutes.

If you purchase in a stationary outlet, you will arrange everything on the spot, in the outlet, and you will collect your purchases.

What if the supplier is not the Leasing Partner?

Use the extremely innovative option (the only one of this type on the European market), provided by us: TAKE LEASING NOW. On our website: you will enter the device selected by you (paste a link to the shop) together with its price as well as your Tax Identification Number (NIP), e-mail address and telephone number and you will receive a special link, through which you will be transferred to our ON-LINE application, in which you will arrange all formalities without the need to deliver any documents within 15 minutes, regardless of the day and time.

The offers presented by us are calculated automatically. The intelligent algorithm system adjusts the value of the object and its amortisation to optimum leasing term. The presented offer is always calculated on the basis of a variant that is the most favourable in financial terms for the Client.

The initial fee adopted for our calculation amounts to 10% and it may be changed in our application, on a further stage of request processing, or through reporting of such need to the Account Manager.

Every need of the Client relating to the initial fee or longer/shorter term of the leasing agreement is accepted and confirmed in the agreement.

We do not charge any additional fees for examination of the request and for monthly payment of instalments (we do not force quarterly instalments). The calculations presented by us inform the Client on all expenditures connected with leasing in a reliable way. We also do not apply any hidden costs connected with such promotions as account opening, etc.

The leasing agreement obliges the Client to insure the equipment in case of a theft or destruction, so that the risks of the situations determined above do not relieve the Client from payment of the leasing fees. However, LeaseLink does not insure and does not force its insurance – the Clients have total discretion in this field.

Vast majority of data is filled in automatically for the Client. Our application is integrated with all official bases, thanks to which both in case of individual business activity and companies of any type the Client fills in only:

  • Personal Identification Number (PESEL),
  • ID card number,
  • date of issuance and issuing entity,
  • registered residence address.


No documents are required. Leasing application or other registration and financial documents of the company are not required.

The entire procedure, including receipt of the agreement by the Client and payment of the initial fees, lasts 15 minutes.

  • Filling in of the required fields and making of the verification payment takes as little as 4 minutes.
  • After 10-minute waiting, the Client receives the decision and if it is positive – also the agreement documents for acceptance.
  • Acceptance of the agreement and making of the payment of the initial fees takes 1 minute.

The verification fee of PLN 1.00 is made via fast transfer (pay-by-link) in order to confirm the identity of the Client.

Through the verification fee, our application excludes the situation, in which third parties personate a representative of the company.

This fee is also confirmation of expression of consents to verification of the Client in available credit information bases, on the basis of which the decision on financing granting is made.

The verification fee is non-returnable.

The confirmation of the will to conclude the leasing agreement and its acceptance by the Client is making of the initial payments directly from our ON-LINE application via fast transfer (pay-bay-link).

In case of collection of the goods from a stationary outlet, the agreement is signed in paper form also in this outlet, directly before handover of goods.

In case when the goods are delivered remotely, the agreement is signed on the next day through setting of a signature on the paper version of the agreement in the presence of a courier.

Regardless of the manner of the purchase of the goods, the Client will receive them as quickly as in case of cash purchases.

In a stationary outlet, we realise the entire procedure on the spot, in 15 minutes.

In Internet shops and through our website: / TAKE LEASING NOW, the agreement is signed and the goods are delivered within 48 hours (provided that the goods are available from the supplier).

We issue invoices for all leasing fees in electronic form and deliver them via e-mail.

Initial fees are invoiced within 10 days from the inflow of the means.

Monthly leasing fees are issued and sent to the Clients on the 2nd day of every month, with 7 day payment term.

After payment of the last leasing fee, the Client will receive an invoice, the payment of which confirms acquisition of the leased device.

Yes, certainly, it is possible, yet with observance of the minimum leasing terms determined statutorily:

  • IT equipment – 18 months
  • photocopiers, office equipment, gastronomic devices – 24 months
  • photographic equipment – 36 months
  • TV sets, projectors, studio technique – 24 months.


tel. +48 32 44 20 280 | mail


Ageing of receivables