Factoring Company- Glossary > Factoring Terms > Factors Verification

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Refers to the process whereby a factor verifies that the goods and services represented as provided and invoiced by the client to the customer, were in fact provided and accepted, and that the customer intends to pay the factor the money due under the invoice. This process is performed and satisfied prior to making the advance payment to the client against the invoiced amount.

Last updated on September 26, 2009 by FACTOR KING, LLC