Understand the world of factoring and avoid common problems within factoring.
Factoring has existed for decades as a niche market in a few industries. Today, factoring is widely accepted as a mainstream form of financing. The factoring industry is growing at a rapid pace and the demand for factoring will increase in a struggling economy. Factoring requires a sophisticated understanding of many legal issues to avoid stepping on land mines. It is also an industry that is vulnerable to fraud and misappropriation. This material will introduce you to the world of factoring, increase your understanding and awareness of legal issues and help you identify and avoid common problems within factoring.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Basic Legal Concepts of Factoring
- History of Factoring
- True Factoring vs. Loan
- Application of UCC, Article 9
- Deal Flow and Structure of Factoring Transaction
Typical Documentation of a Factoring Transaction
- Anatomy of a Factoring Agreement
- Guarantees
- Validity Guarantees (Bad Boy)
- Indemnifications
- Other Ancillary Documents
Due Diligence War Stories and Red Flags
- Searches - UCC, Judgments, Bankruptcy, Tax Liens (the Importance of National Searches)
- Prior Names, Mergers and Acquisitions, Affiliates and Alter Egos
- Inventory Issues, Bailees and Warehouses
- Subordinations and Intercreditor Agreements
- Perfecting Liens
Notice of Assignment: The Key to Double Liability
- Adequate Notice
- Proof of Notice
- Verification - Signed?
- Estoppel - Waiver of Defenses and Offsets
The Due Diligence Family Reunion
- IRS 45-Day Rule
- State Tax Liens
- Bankruptcy
- Judgment Liens
- Employment Commissions
Special Situations, Special Rules and Secret Liens
- Agricultural
- Transportation
- Construction
- Medical
- Employee Leasing
- Government Accounts - Assignment of Claims Act
- Payroll Taxes
- Oil and Gas
Dangerous Clients and Fraud
- Pre-Billing
- Double Billing
- False Invoices
- COVID-19
- Getting Law Enforcement Involved
- Objecting to Discharge
Collections and Chasing Account Debtors Across the Country
- Asserting Demand
- Suing - Venue
- Arbitration
- Proper Pleadings
Bankruptcy
- Treatment of Factoring
- Automatic Stay Issues
- Cash Collateral Orders
- DIP Financing
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 31, 2021.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Jason M. Medley
Clark Hill PLC
- Member, Clark Hill PLC, Banking and Financing Services
- IFA preferred attorney, 20+ years’ experience with commercial finance, handled $20MM factoring fraud case with assignment for benefit of creditors, and handled $60MM factoring fraud leading to FBI arrest
- Defended numerous true sale challenges in courts across the country
- Generated operative documents and infrastructure for favoring divisions of large national banks
- Author of “IFA Legal Compendium 4th Edition,” 2020; “United States Law Continues to Embrace Factoring (... Even During a Pandemic),” BCR 2020 World Factoring Yearbook; and “US Law Continues to Embrace Factoring,” BCR 2019 World Factoring Yearbook
- Memberships: general counsel, Houston Chapter of the Commercial Finance Association (now known as the Secured Finance Network); member of Turnaround Management Association, Houston Chapter; International Factoring Association, preferred attorney; Texas Association of Bank Counsel, member, 2001–present; Lake Houston Area Chamber of Commerce, chairman of the board, 2009; YMCA, board of directors, 2009; legal counsel & member of Commercial Finance Association, Houston Chapter
- J.D. degree, University of Houston Law Center; B.S. degree, University of Houston
- Can be contacted at 713-951-5636 or [email protected]
Add to Wishlist
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
