The contracts involved electronic billing, receivables financing and other services.
It's not uncommon to see annual percentage rates of more than 25 percent for receivables financing and more than 50 percent for purchase-order financing.
The wreckage left in Klauder's immediate wake was that non-notification receivables financing was impossible in an unknowable number of states.
The pressures generated by novel methods of receivables financing would sooner or later have collapsed the common law rules and led to a statutory reformulation.
Given that the Nuts 'N More founders were looking for money to fill a big order, I wonder if they could have instead employed purchase order and receivables financing.
(The status of the Massachusetts rule under Klauder was debated in the lower federal courts for several years, with varying results, unti1 the problem was otherwise put to rest). It was, however, clear that non-notification receivables financing was safe in New York rule states — although once again there was no way of knowing how many such states (besides New York) there were.
These include pre-payment financing, inventory financing, and receivables financing.
The Receivables Exchange started its online receivables financing marketplace in 2008 with the launch of its proprietary receivables trading platform.
This segment products and services include processing services, new account processing, bill processing, remittance processing and customer care, private label receivables financing, underwriting and risk management and receivables funding.
The Commercial Banking product offerings include the provision of receivables financing services, payments and cash management, international trade finance, treasury and capital markets, commercial cards, insurance, cash and derivatives in foreign exchange rates, online and direct banking offerings.
