Advances on Debtors Outstanding

From Open Risk Manual
Revision as of 22:02, 10 February 2020 by Wiki admin (talk | contribs) (Initial Entry)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Definition

Advances on Debtors Outstanding. They are funds advanced by a factor or a receivable financier (prepayments) to an assignor against debtor balances. It is also referred to as a current account, utilization, or drawing. This is the actual currency advance at a certain moment in time.