without-recourse factoring contract definition
without-recourse factoring contract means a factoring contract that a commercial bank does not have the right to claim or the right to recourse on clients to pay for debtors’ debt in case of past due debtors.
without-recourse factoring contract means a factoring contract that a commercial bank does not have the right to claim or the right to recourse on clients to pay for debtors’ debt in case where the debtors default on payment.