Factoring Contracts

I will get an inquiry every so often about contracts.

A factoring company can not fund a contract, you must be submitting an invoice for your product or service. The credit worthy invoice is the asset being purchased, so a contract is not a asset.

So much can happen between turning a contract into a invoice. A factor can not verify and purchase what is not there which is a product delivered or a service rendered.

Keep in mind....Factoring is the process of a company selling credit worthy accounts receivable (invoices) at a discount for immediate cash. The product must be delivered or the service rendered, no pre-bills!

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