Notice to call for attention to prevent multiple debts
(Concerning factoring by paying high commission fees)
Pay great attention to the use of factoring by paying high commission fees or at high discount rates.
When a company concludes a factoring contract to procure funds through an assignment of accounts receivable, etc. by paying high commission fees or at high discount rates, there is a risk that the company may face a tighter cash-flow situation and result in owing multiple debts. Please pay great attention to avoid such situation.
With regard to cash flow support for companies affected by the COVID-19 infection and consultation services, see the FSA's website, "Information on COVID-19 (Novel Coronavirus)".
There have been cases where entities unregistered as a money lender illegally provided loans on security of credits under the name of factoring. If you have any suspicion, provide information to or have a consultation with the police (the nearest police station or the dedicated line "#9110" available nationwide) or the FSA’s Financial Services User Consultation Desk (0570-016811 [or 03-5251-6811 for IP phones]) (available only in Japanese).
(Reference) Notice to call for attention to illegal loans under the name of factoring (FSA's website) (available in Japanese)
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