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ARTICLE · 08 JANUARY 2018

Invoice Finance 2018: Where Next For Bans On Assignment?

Gowling WLG
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Invoice finance provides crucial lifeblood to the financing of UK PLC. The last available full year figures for 2016 reported that an average of £9.5 billion of asset based finance was lent to small ...

United KingdomFinance and Banking
Gowlings TV
Gowlings TV
Stephan Smoktunowicz
Stephan Smoktunowicz
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Invoice finance provides crucial lifeblood to the financing of UK PLC. The last available full year figures for 2016 reported that an average of £9.5 billion of asset based finance was lent to small and mid-sized businesses at any one time. A major portion of that was invoice finance and that figure is expected to grow.

As with any form of financing, making invoice finance more accessible to businesses is dependent on removing existing barriers to funding. So, it came as good news last Autumn that a set of draft regulations (called 'The Business Contract Terms (Assignment of Receivables) Regulations 2017' (Regulations)) had been placed in front of the UK Parliament for approval, because they sought to limit the effect of one key barrier to providing invoice finance; the 'ban on assignment clause' (BoA).

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