Spot Invoice Discounting is promoted by Smart Factoring Quotes and so is Spot Factoring.
What is the difference? In fairness there is no difference.
The Spot Invoice Discounting is a disclosed facility and the debtor is required to pay the spot invoice discounting company directly. The argument is that the client does their own credit control. Technically I feel that this is spot factoring or spot CHOCS at the risk of splitting hairs!!
The spot factoring that we promote is also disclosed and the debtor is also required to pay the spot factoring company directly. Credit control is however done by the spot factoring company.
For those looking for a confidential solution to a single invoice you will be disappointed.
This method of discounting or factoring does however mean their is no tie in to a lengthy contract. The trade off however is in the pricing. That said it can be a valuable short term solution for companies.
