RBSIF definition
Examples of RBSIF in a sentence
Prepayment: A payment by RBSIF to the Client on account of the purchase price of a Debt not exceeding the Prepayment Percentage of the Notified Value.
The amount of a Notified Debt which is wholly or partly unpaid and has not been reassigned by RBSIF to the Client.
Notification, Notify and Notified: The method using RBSIF’s printed form, FacFlow or other means by which the Client advises RBSIF of the creation of Debts and of Dilutions.
RBSIF grants the Client a non-transferable licence to use FacFlow.
Remittances: Cash, cheques, bills of exchange, negotiable and non-negotiable instruments, letters of credit, orders, drafts, promissory notes, electronic payments and any other form of payment received by RBSIF, the Client or the Client’s agents in payment of a Debt including monies recovered under any credit insurance policy, a refund of the VAT element of the Debt or a dividend payable in respect of the Debt.
The charge for RBSIF making Prepayments to the Client which is deducted from the purchase price of Debts, and calculated daily by applying the Discount Margin plus the Applicable Rate to the balance on the Memorandum Discounting Statement.
FacFlow, and all its content (including software), is Exhibit 10.1 the property of RBSIF and its suppliers and is protected by copyright and other intellectual property rights.
RBSIF will provide services to the Client including FacFlow and assisting with the reconciliation of the Client’s sales ledger with RBSIF’s records.
Cash Collection Target: The amount which RBSIF will tell the Client on the first banking day of each month by FacFlow or other means is the minimum value of Remittances that must be collected by the Client during the period from the first to the last banking days of the relevant month.
The Client indemnifies RBSIF against Liabilities incurred in relation to any Finance Document including the costs of establishing title to and collecting Debts.