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Glossary of Terms Beginning with F

Factoring or Debt Factoring:
The process by which debts are assigned by a supplier of goods or services to a third party debt factoring company which then collects the debts and pays the supplier company a proportion of the debt in advance of that collection - generally used to improve cashflow.

Feuing conditions:
Conditions imposed in title of property; breach of same may entitle enforcing party to take legal action or claim damages.

Fiduciary Duties:
Duties of good faith. Such duties are owed by Directors of limited companies to the companies they represent, by trustees to the beneficiaries of the trust and by other parties in positions of authority e.g solicitors and accountants.

Last updated: 4.05pm, Wednesday 28th April 2010

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