How is Sales Financing defined in a legal contract?
- Sales Financing means being mainly involved in the process of acting on behalf of sellers or lessors, obtaining rights against debtors from consumer credit sales or consumer leases, and undertaking the direct task of collecting payments from or enforcing rights against debtors from these sales or leases which, at the time of assignment, the buyer or lessee is not in default. Seen in 6 SEC filings.
- Sales Financing means being mainly involved in the process of taking assignment or providing financing on behalf of sellers or lessors. This includes non-servicing rights against debtors arising from consumer credit sales or consumer leases which, at the time of assignment, the buyer or lessee is not in default. Seen in 1 SEC filing.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Sales Financing means acting on behalf of sellers, transferring or funding consumer sales or leases, and ensuring direct payment collection.
Relevant Contract Types
Relevant Circumstances
- Consumer retail sales
- B2B sales and leases
- Asset financing
Relevant Sectors
Genie Definition 2
Sales Financing means providing financing for consumer sales or leases, and ensuring the payments are in order.
Relevant Contract Types
Relevant Circumstances
- Consumer sales requiring financing
- B2B transactions requiring payment plans
- Real estate purchases requiring mortgages
Relevant Sectors
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Sales Financing means acting on behalf of sellers, transferring or funding consumer sales or leases, and ensuring direct payment collection.
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