Glossary

The obligor responsible for paying an invoice auctioned on The Receivables Exchange

Accounts owed to the Seller arising out of the sale of goods or performance of services

Accounts owed to the Seller arising out of the sale of goods or performance of services

The amount that a Buyer is willing to pay or advance to the Seller upon purchase of a receivable

The institutional investor who purchases a receivable on the Exchange

The price which if bid by a single Buyer will result in the instantaneous awarding of the auction, thereby closing all further bidding

Accounts Receivable/(Total Revenue/365) Days Sales Outstanding is a company's average collection period. A low number of days indicates that the company collects its outstanding receivables quickly.

The fee that a Buyer receives as a result of the purchase of a receivable.

Factoring is a financing method in whereby a business sells their receivables to a third-party funding source at a discount.The Receivables Exchange is not a factoring company, but an innovative marketplace where invoices are sold and purchased.

The legal debt instrument which indicates the face value due from an Account Debtor to pay the Seller for delivered goods or services.