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Live Webinar

90-minute live streaming program
  • March 31
  • 1:00 - 2:30 pm EST

Factoring: Converting Accounts Receivables to Cash

March 31

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.

Learning Objectives

  • You will be able to define factoring.
  • You will be able to describe the typical factoring arrangement.
  • You will be able to discuss potential pitfalls within the factoring arrangement.
  • You will be able to explain notice of assignment requirements.

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Why Lorman?

Over 34 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
  • Email
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
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More Program Information

Why Lorman?

Over 34 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

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CAPP/CAPA
     
  • This is an IAPP qualifying continuing education activity.
     
  • CPE 1.8 including Finance 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Finance for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, tax managers, accounts receivable professionals, bookkeepers, CFOs, controllers, enrolled agents, business managers and owners, presidents, vice presidents, CEOs, business and financial analysts, risk managers and attorneys.

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Why Lorman?

Over 34 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

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]
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Why Lorman?

Over 34 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.

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Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • MP3 Downloads
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Additional benefits include:

  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408091
Published 2021
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