Invoice Factoring uses the receivables of a business as an asset, allowing the business to raise finance on them. Previously, contracts from larger firms may have included a ban on assignment making it difficult to take on an invoice finance facility.
Ban On Assignment Restricted
New laws to help small businesses against these unfair contracts have now come into force. These new laws apply to contracts entered into after 31 December 2018 regarding the supply of goods, services or intangible assets under which the supplier is entitled to be paid money.
To discuss the funding options available to your business. Please do not hesitate to contact us on 0161 280 4220 or lynnew@regencyfactors.com