Fee charged against the face value of the notified invoices, subject to a minimum aggregate amount per annum.

Using a third-party to help acquire advance payment on invoices. There are two types of invoice finance: Factoring and Invoice Discounting, either can be disclosed or undisclosed.

A type of Invoice Financing that is similar to factoring, but the company retains responsibility for collecting its own invoices.

A bill that is issued to a buyer by a seller. A standard invoice typically includes information on products or services, their quantities and the agreed prices. The terms of payment are usually included as well, but not always.

The default limit set in respect of all debts due from a particular debtor at any time.

A type of finance aimed at small and medium enterprises (SMEs). This differs from other forms of finance in that a company’s eligibility for loans and financing is assessed on their viability as a business, rather than their collateral or track record.

The maximum pre-agreed limit that the debit balance of the current account must not exceed at any time.

A type of Invoice Financing that involves selling a percentage of unpaid invoices to a third-party to receive the money owed early. The third-party will then collect the full amount from the customer and pay you the remaining percentage when full payment is received minus an administration charge.

The charge calculated daily on the debit balance of the Current Account and charged monthly.

Fee charged for the preparation of the documentation for the facility and charged to a current account within 30 days of the commencement of the facility.