Factored Receivables Have Been Sold to Another Company

question 100

True/False

Factored receivables have been sold to another company.

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Definitions:

Liability

A company's or individual's legal responsibility for their actions or the state of being legally obligated to settle a debt.

Negotiable Bill of Lading

A document issued by a carrier that guarantees the delivery of goods to a specified party and can be transferred by endorsement to others.

Seller's Bank

A financial institution that represents the seller in a transaction, particularly in international trade, by handling the receipt and processing of payment.

Agent for Collection

An individual or entity appointed to gather or receive payments on behalf of another.