Bad debt protection Terms and conditions
- Offer is available to new Close Brothers Commercial Finance customers only.
- Available to new customers entering a factoring or invoice discounting facility with Close Brothers Commercial Finance.
- Available to existing customers with an unprotected factoring or invoice discounting facility with Close Brothers Commercial Finance.
- Qualifying new facilities must have a formal offer from Close Brothers Commercial Finance.
- Customers must sign to a minimum 18 month contract plus six month notice period.
- Bad debt protection charges will be agreed with each customer.
- Bad debt protection charges will not be applied for a period of six calendar months from the date of facility commencement. Thereafter, the agreed bad debt protection charges and its associated Minimum Fee will apply for the remainder of the contract.
- All applications will be subject to the usual sales ledger credit assessment process.
- If customers serve notice, the relevant clause of the Debt Purchase Agreement will apply.
- The offer excludes facilities where the single largest debtor is more than 40% by value of the sales ledger.
- The offer excludes facilities where the export debt is more than 20% by value of the sales ledger.
- The offer is open to businesses in Northern Ireland and Republic of Ireland only.
- No cash alternative can be provided.
- Close Brothers Commercial Finance may decline to quote.
- Close Brothers Commercial Finance reserves the right to amend the eligibility criteria at any time and cancel any agreement which does not comply with these terms and conditions.
- Close Brothers Commercial Finance reserve the right to terminate this offer at any time without notice.
- The offer is not available with any other promotion.
The promoter is Close Invoice Finance Limited, a UK registered private limited company (and its Irish registered branch of the same name) trading as Close Brothers Invoice Finance and Close Brothers Commercial Finance. UK registered address: 10 Crown Place, London, EC2A 4FT.
