What is Terms of the Sale?
Terms of the Sale is an agreement between the buyer and the seller which references the price of goods being sold, the return policy, delivery location, time of shipment and payment terms. The sale’s terms may also reference the purchase order and the vendor agreement. The vendor agreement can be many pages long and applies not only to your company but your assignees, i.e. your factoring company.
Audio Definition/Pronunciation
OTHER TERMS BEGINNING WITH "T"
- Trade Financing
Trade Financing is the term used for financing of international trade. Trade finance includes such activities as Cash Against Documents, credit insurance, export credit, bid and performance bonds, lending, trade-related promissory notes, Letters of Credit, purchase order funding, bills of…
- Traditional Factoring
Non-Recourse Factoring or Factoring Without Recourse is an agreement within a factoring contract where the factor's client does not have to pay back the factoring company if an invoice is not specifically paid due to bankruptcy of the client’s customer…
- True Sale
A "True Sale" means that the Big Box Retailer is purchasing the product from you and is obligated to pay you whether they sell it or not; the risk of sale is transferred to Mr.Retailer as soon as they accept…
- Turnaround
A Turnaround represents a company demonstrating an improving financial situation after it has been performing poorly for an extended time or after a catastrophic event. ECapital will many times fund companies in a turnaround situation.
