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Home page Credit management advice The A to Z glossary of credit keywords

The A to Z Glossary of Credit Keywords

There are 166 entries in this glossary.
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F

Term Definition
Factoring

Factoring is a financial service by which a concern operating as a 'Factoring House' or 'Factoring Agency' will buy outright the debts of a client. The latter is then relieved of losses it may incur because of slow payment or financial difficulties of a customer and the trouble of collecting outstanding accounts.

Firm

A business unit formed for the purpose of carrying out some kind of trading activity. The term "firm" is used in many ways, but the correct meaning is a business carried on under a trading style by partners. Many people use the term "firm" to embrace any business, i.e., Private Limited and Public Limited companies but this is technically incorrect.

Fixed assets

Tangible and intangible assets with a relatively long life, acquired to produce goods or services and not intended for resale. Includes financial assets such as trade investments.

Fixed charge

A charge over a specific asset or type of asset, e.g. machinery, property, book debts, etc.

Fixtures/equipment

The current book value of fixtures and fittings after allowing for depreciation.

Floating charge

A charge created by a company over all company assets for the time being. The lender has no immediate right over the assets but upon crystallisation of the charge he or she can enforce against any or all of the assets covered by the charge.

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