A Personal Guarantee in the context of the UK is a legal commitment made by an individual to repay a debt or fulfill an obligation if the primary borrower, typically…
Read More
A Pay When Paid clause is a contractual provision often used in the construction industry and other subcontracting arrangements in the UK. This clause stipulates that a subcontractor or supplier…
Read More
A past due invoice in the UK refers to a bill for goods or services that has not been paid by the specified due date. Here's a detailed definition tailored…
Read More
An Operating Agreement, in the context of UK business law, typically refers to a legal document that outlines the operational and financial structure of a limited liability company (LLC) or…
Read More
Non-recourse factoring, also known as without recourse factoring, is a financial arrangement where a business sells its invoices to a factoring company (factor) and transfers the risk of non-payment by…
Read More
A Notice of Assignment in the UK is a formal document used in financial transactions where one party (the assignor) transfers its rights, interests, or benefits under a contract to…
Read More
Negative cash flow occurs when a company or individual is experiencing a situation where the cash outflows (expenses) exceed the cash inflows (revenue or income) over a specific period. Here's…
Read More
Mezzanine financing, in the UK context, refers to a type of funding that combines elements of debt and equity, often used by companies to finance growth, acquisitions, or management buyouts.…
Read More
