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What is a Notice of Assigment or NOA?

If you are considering accounts receivable factoring for your company, there is a document called "Notice of Assignment", which informs your customers that moving forward you will be working with a factoring company or a bank and that they will be managing and collecting on your accounts receivables.

You may have concerns about what your customers might think, but you should not be concern. Factoring has been around for over 4000 years, and has increased significantly and will continue to increase as result of expanding global markets.

Analysts predict based on a Global Factoring Market report that factoring will continue to grow for several years by over 10% annually.

Factoring has become a necessary financial solution for companies in order to expand and grow their marker and further maintain a strong cash flow, in fact, many of your customers may also be factoring.

Some of your customers may have already contacted you demanding longer terms on your invoices in order to help their business so factoring not only helps your company with an ongoing supply of capital based on sales but also is helping your customers by extending longer terms which ultimately helps their business grow as well.

So you should not be concern about an NOA, you should look at factoring and the NOA as a WIN WIN for you and your customers.

For additional information, please CONTACT US at any time.

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