Factoring Agreement Without Recourse
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How to fill out Factoring Agreement?
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FAQ
Non-recourse factoring fees are based on volume and can range anywhere from 2%-5%. Due to the added risk, non-recourse rates are somewhat higher than recourse.
Non-Recourse factoring is a form of finance where a company sells its invoices to a factor and receives a percentage of the cash value from them. The factor will then chase up the invoices and once full payment is received will reimburse the company with the remaining balance of the invoice.
Full-Recourse factoring means that the vendor, not the factor, bears the risk if the retailer does not pay the invoice. Non-Recourse factoring means that the factor, not the vendor, absorbs the credit risk.
Two Types of Factoring You are ultimately responsible for any non-payment. Non-recourse factoring means the factoring company assumes most of the risk of non-payment by your customers.
Recourse factoring is the most common and means that your company must buy back any invoices that the factoring company is unable to collect payment on. You are ultimately responsible for any non-payment. Non-recourse factoring means the factoring company assumes most of the risk of non-payment by your customers.
