Pre-Billing is submitting a request for payment before your product or services have been provided to your customer. If you are pre-billing this should be disclosed to the factoring company…
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A Personal Guarantee is an agreement signifying an individual, organization or a company accepts responsibility for a 3rd party debt in the event the debtor fails to pay.
Peer Lending, or Peer-to-Peer (P2P) Lending, is a practice of lending to individuals or businesses money through online services that match the borrowers with lenders.
The Perishable Agricultural Commodities Act (PACA) protects businesses dealing in fresh and frozen fruits and vegetables by establishing and enforcing a code of fair business practices and by helping companies…
A Pay when Paid Clause in the vendor agreement requires payment to the subcontractor when the prime contractor gets paid by the project’s owner. A prime contractor’s obligation to pay…
A past due invoice is where your customer has not paid your invoice according to the agreed upon credit terms. For example, if your selling terms are net 30 and…
Paid in Capital represents funds raised by the business from equity (investors & owners), and not from revenue or ongoing operations. It is listed in the Equity Section of the…
An operating agreement is a document describing how a limited liability company (LLC) will carry out business obligations between its owners. Many states in the United States require an LLC…
