What are the costs associated with invoice finance?

Invoice finance agreements will be priced based on your business and requirements, however invoice discounting and invoice factoring have different fee structures.

Invoice discounting is structured like a loan, with interest payable plus an administration fee.

• Unique Tax Reference (UTR) in the UK;

• Social Security Number (SSN) for individuals and the Employer Identification Number (EIN) for most entities in the US;

• SIREN in France; or

• NIP/PESEL in Poland.

Invoice factoring charges are known as a ‘factor rate’, which is based on level of risk, volume of invoices, and the time credit is extended for, amongst other factors.OECD website can be consulted for further details about the TIN or its equivalent.