Recourse would be against both the debtor (Cable Company or Prime) and the subcontractor. When invoices are sold to a factoring company, they are guaranteed to be without lien and true and correct by both the sub and the cable company, who usually signs off on the invoice.
In case of a minor shortage, a reserve account usually takes care of that.
Wholesale nonpayment is very rare and would indicate fraud and no one wants to go there.
Innovative Marketing Systems
Re: 30 Days Out, Question
Member #: 22668
Registered: 3/29/2003
Posted:
107
Name:
Frank Anderson
Name:
Frank Anderson
Company:
Innovative Marketing Systems
Occupation:
CFO
Location:
Dallas, TX
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