Discover the most frequently asked Factoring questions

Is it easy to terminate a factoring arrangement?

If you wish to  terminate your factoring agreement , the first step is to check the contract for when notice can be given and for stipulations on minimum terms, such as contract length or minimum service charges. If you can meet all of these, then cancelling an agreement is easy. However, terminating a factoring arrangement before the agreed date can be costly, with penalties and administration fees normally being charged by the factor.  In this case it is sensible to seek independent advice or speak to your factor about what options are available, such as moving to an alternative form of invoice finance or renegotiating your contract terms.

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