The invoice verification process ensures that invoices are accurate, legitimate, and align with the agreed-upon terms before payment is made. Here’s a step-by-step overview: Invoice Receipt: Receive the invoice from…

An Intercreditor Agreement is a legally binding document that outlines the rights and priorities of two or more creditors who have a financial interest in the same borrower. These agreements…

An Invoice is a formal document issued by a seller to a buyer that itemizes and records a transaction for goods or services provided. It serves as a request for…

Inventory or Stock refers to the goods and materials that a business holds for the ultimate purpose of resale. It is a Current Asset on the Balance Sheet. Most manufacturing…

An Inspection Certificate is an official document issued by an authorized inspection body or agency, confirming that goods have been inspected and meet the specified quality, quantity, and condition requirements…

Ineligibles refer to certain assets or accounts that are excluded from a borrowing base or collateral when determining the amount of credit or financing a borrower can receive. In the…

Indemnification is a legal concept where one party agrees to compensate another party for any losses, damages, or liabilities that may arise from a particular event, contract, or transaction. The…

Incoterms, short for International Commercial Terms, are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers involved…