Statutory definition
factor
This definition is taken from the act's own definitions section.
any non-banking financial company as defined in clause
Defined by this section
Factoring Act §2 — Definitions.Tags
- Factoring Act
Related terms
- अधिसूचनाराजपत्र में प्रकाशित अधिसूचना अभिप्रेत है
- assigneethe factor in whose favour the receivable is transferred
- assignmentthe transfer by agreement of the undivided interest of an assignor in any receivable due from a debtor in favour of a factor and includes assignment where either the assignor or the debtor is situated or established outside India. Explanation.-For the pur
- assignorany person who is the owner of a receivable
- business enterpriseany enterprise or medium enterprise, micro enterprise or small enterprise as defined in clauses
- debtorany person who is liable to the assignor, whether under a contract or otherwise, to pay any receivable or to discharge any obligation, whether existing, accruing, future, conditional or contingent, in respect of a receivable