Factoring – still chasing commercial respectability

Anthony Davies, The Independent, 21 July 2004

As part of a special report on trade finance and factoring, this article explains factoring and invoice discounting and distinguishes the different ways in which they work and are described.

Mr Davies also contrasts the level and nature of factoring arrangements overseas with local factoring arrangements, and includes a useful glossary setting out the differences between:

• full service factoring;
  
  
• co-operation factoring;
  
  
• invoice discounting;
  
  
• recourse factoring; and
  
  
• non-recourse factoring.

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