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Terminology
This can be a minefield to navigate through.
The majority of businesses that contact us are preoccupied
by the fundamentals - costs, finance levels and facility types. However, avoiding the industry jargon could lead to
mis-understanding and limits to the effectiveness of the facility for you.
It is vital to understand the following terminology:
- Initial payment / Prepayment.
- Debtor concentration / High involvement.
- Minimum fee.
- Approved and unapproved debts.
- Refactoring.
- Contract period
- Notice period / Termination.
There are many others!
Be safe….call FactoringChoice for free advice and guidance.
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