INVOICE DISCOUNT FACTORING

Factoring has had a negative connotation for many firms since it was seen as a means for a struggling business to gain early access to its receipts or income from its business sales activity

In the 80’s a confidential means of factoring was introduced, UCB being one of the fore runners with their then product Confidential Invoice Discounting

Confidential Invoice Discounting at that time meant the firm or business borrowed money against its sales ledger as per with factoring except – and it is/was a big exception, that the customer who had bought the goods did not know the invoice had been factored

This confidentiality was achieved by the business retaining control over its whole sales ledger – they raised the invoice (borrowed against it) and still did their own debt chase and payment collection and, if the debt went sour it would be ‘charged back’ and still the business retained control to collect or sue for payment

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