factor

Definition:

1. An agent who is provided by the principal with possession of goods of the principal for sale, where the goods may be sold in the name of the agent. 2. An enterprise which purchases (i.e. acquires the right to receive payment of) trade debts owed to other enterprises. Usually, the fact that a debt has been purchased by a factor is notified to the debtor so that there is a legal assignment of the debt. 3. To sell debts to a factor (see sense 2). 4. A part of a mathematical expression that is to be multiplied by another part of the expression.



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