The Evolution of New Business Legislation

financial planning

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.

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