A/R Finance & Factoring Terms GLossary
What isPay when Paid Clause
A Pay when Paid Clause in the vendor agreement requires payment to the subcontractor when the prime contractor gets paid by the project’s owner. A prime contractor’s obligation to pay is triggered upon receipt of payment. However, what happens if the prime contractor is underpaid or not paid at all? This is why Construction Factoring is a small subset of general factoring.
However, Paragon has worked with many subcontractors if their prime customer is a strong credit.
Audio Definition/Pronunciation
OTHER TERMS BEGINNING WITH "P"
- Paid in Capital
- Past Due Invoice
- Peer Lending
- Perishable Agricultural Commodities Act (PACA)
- Personal Guarantee
- Pre-Billing
- Prime Rate
- Principal and Interest (P&I)
- Process of Factoring
- Production Finance
- Proof of Delivery (POD)
- Property, Plant, and Equipment (PP&E)
- Purchase Order
- Purchase Order Funding or PO Financing
