Glossary

Accounts Receivable
Money that is owed to you for products or services that have already been invoiced.

Bridging Loan
Money made available to you to bridge the gap between you charging for a product or service and you actually receiving payment.

Cash Flow
The cycle of income and expenditures, and the resultant availability of working capital.

Completion Document
A Completion Document is a document used to indicate when a particular contracted job has been completed or an order has been filled. This is generally used to indicate that all work in relation a particular job or purchase has been completed.

Credit Terms
The conditions associated with the lending of money, such as the interest rate, the repayment period, the indemnity associated with the loan.

Debt Protection
Insurance or other mechanism designed to recompense you for the losses incurred upon the non-payment of monies owed to you.

Factor
A financial services provider who specialises in the provision of funding secured against monies owed to you from a third-party.

Outsourcing
Outsourcing is the process of contracting an external firm to provide services that your company would ordinarily undertake in-house.

Trade Credit Insurance
Trade Credit Insurance is an insurance policy taken out to cover the value of credit owed on a trade debt, should the debtor fail to pay the outstanding value of the debt.

Turnover
A measure of the business transacted over a period of time.