Non-compliant Credit Notes Clause Samples

Non-compliant Credit Notes. Credit notes not complying with the usual practices (the issue of credit notes significantly affecting the transferred debts does not for example constitute complying with the usual practice) or issued in fraud of the rights of the Factor, will be acknowledged as non-invocable to it even in the case where they would have been the subject of a credit with the factoring account recording the outstanding of the transferred debts. Without prejudice of any recourse against the Company, it will in particular be for non-motivated credit notes, while waiting for written justification and for those followed by rebilling issued with no mention of the subrogation for the Factor.

Non-compliant Credit Notes. Credit notes that are not issued by the Company in accordance with usual business practices (for example the issuance of credit notes significantly affecting the Transferred Receivables is not a usual business practice) or issued in fraud of the Factor's rights shall be deemed unenforceable against the Factor even where they have been credited to the Asset Account. Without prejudice to any and all recourses existing against the Company, this rule shall apply in particular to all unsubstantiated credit notes, credit notes for which a written justification has not yet been received and all credit notes which are followed by later invoices issued without any reference to the Subrogation in favour of the Factor.

Non-compliant Credit Notes. Credit notes not fitting into the normal business practices of the Client and in the ordinary course of business, or issued fraudulently in regard to Crédit Agricole Leasing & Factoring, will be deemed unenforceable. Without prejudice to any future action against the Client, this will be especially the case for credit notes issued without written justification, pending a written justification to be requested by Crédit Agricole Leasing & Factoring, as well as for those followed by ▇▇▇▇▇▇▇ invoices issued without mention of the subrogation in favour of Crédit Agricole Leasing & Factoring, where the Recovery Mandate has been revoked, and/or those followed by ▇▇▇▇▇▇▇ invoices and not assigned to Crédit Agricole Leasing 8 i Factoring, despite the absence of any termination of this Agreement