A/R Finance & Factoring Terms GLossary
What isConfession of Judgment (COJ)
Written authorization of a loan agreement by the borrower giving the lender a judgment against the borrower in the event there is a default. A Confession of Judgment (COJ) clause or document (many times notarized) allows the creditor (lender) on a default event, to appear in court and deliver the Notarized COJ to the judge and request a default judgment against the borrower. You see this many times in MCA and other “Hard Money” loans.
Audio Definition/Pronunciation
OTHER TERMS BEGINNING WITH "C"
- Capital
- Carried Interest
- Cash Against Documents (CAD)
- Cash Flow Projections
- Chargebacks (Retailer)
- Client
- Client Concentration
- Collateral
- Consignment Sale
- Contra Account
- Contract Financing
- Credit Insurance
- Credit Limit
- Credit Memo
- Credit Terms
- Cross-Aged Accounts (10% rule)
- Current Assets
- Current Liabilities
- Current Portion of Long-Term Debt (CPLTD)
