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Factoring - your rights

Factoring is a financial transaction whereby a business sells its invoices to a third party (referred to as a "Factor"). Factoring and invoice discounting are services which re traditionally offered by finance providers, including the main Clearing Banks. It supposedly assists the cash flow of the business as invoices are paid quickly. But there is a heavy, and sometimes hidden, price to pay. This is a contract and as with any contract, it is fundamental that you read every term of that contract and in reality, the terms and conditions in small print. You sign, you are bound by. Unless of course you can establish that there were any misrepresentations by the Factor or its representatives prior to you entering into the Agreement. You can challenge the contract on the basis of any such misrepresentations as long as you can ague you relied upon the in order to enter into the contract. With Factoring, do bear in mind that you may gain liquidity but it is at a price. Be certain in advance what that price actually is, and take a very good written signed note of everything that is said to you before you sign.

The Legal Company
3rd Floor
55 Old Broad Street
(By Appointment Only)

The Legal Company
Hilton Regus Express
Outwood Lane
M90 4WP