An account established by the factor to track funds owed to a client as factored invoices are paid. The account amount equals the invoice face value minus the advance, the factor's fees, charge backs and administrative charges.
Other terms explained in the Business Loans Glossary
Business Loans Glossary: Reserve Account
Business Loans Glossary: Reserve Account
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Article Id: 131 - Version: 3 - Created: 26-02-2008 - Last Updated: 26-03-2008 - Hits: 899
Categories: Glossary
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