Spot factoring: also referred to as single invoice factoring, you sell a single invoice in a one-off deal. Non-recourse factoring: in this case, the factoring company agrees to take full responsibility for invoices that remain unpaid. The five main types of construction invoice factoring include:įull recourse factoring: you agree to buy unpaid invoices from the factoring company if the customer does not pay within the specified period. What you choose will depend on the nature of the factoring agreement, the factoring rates, and the number of invoices you are selling. There are several types of invoice factoring. To mention a few, companies that offer roofing, landscaping, wiring, HVAC, and other construction-related services can apply for invoice factoring.
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