A new government consultation on legislation has been hailed as a major step forward by the Asset Based Finance Association (ABFA), the body representing the asset based finance industry in the UK and the Republic of Ireland.
The new regulation is predicted to dramatically improve SME access to finance. In a consultation document published to coincide with Small Business Saturday, the Government proposes regulations to invalidate clauses in supplier contracts that prevent SMEs from using their unpaid invoices to secure funding. The ABFA explains that restrictions in contracts banning the re-assignment of…
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