Definitions for "Recourse"
The right to demand return of money paid. In negotiation of a letter of credit, payment by the negotiating bank will normally be with recourse.
The right to seek payment on a discounted note from the payee if the maker defaults.
A company providing finance may build in the right to get back the money lent in certain circumstances.
The recourse period is the agreed period for which Enterprise Finance Europe will fund an invoice. Beyond this period, funding is withdrawn.
Type of factoring in which the client, or guarantor, is liable for payment (i.e., the return of the money advanced) in the event the customer is financially unable to pay
An invoice finance facility where you have chosen not to take advantage of protection against bad debts. With a recourse factoring or invoice discounting facility, if the debtor fails to pay the factoring company or invoice discounting company will withdraw any prepayment that has been provided against the invoice.
Recurrence in difficulty, perplexity, need, or the like; access or application for aid; resort.
To have recourse; to resort.
A source of help; that which is resorted to. With Recourse' where a bank discounts or negotiates a bill of exchange for a customer, if the bill is dishonoured at maturity the bank is able to claim the amount of the bill from the customer. Without Recourse' ‑ a party to a bill of exchange may nullify his liability on the bill by adding these words after his signature. Such a clause will make the bill less easily negotiable.
A coursing back, or coursing again, along the line of a previous coursing; renewed course; return; retreat; recurence.
To return; to recur.
Keywords:  admittance, access
Access; admittance.
Keywords:  refuge, took, lying, police, something
something or someone turned to for assistance or security; "his only recourse was the police"; "took refuge in lying"
The ability of a lender to foreclose on a property and seek other assest of the borrower to satisfy the debt.
Refers to a dealership whose arrangement with its "financing" sources is such that the dealership is responsible for its customers’ auto loans. In addition to supplying the bank with customers’ loan applications, this kind of dealership can take a gamble on its customers and make loan approval decisions on its own.
The personal guarantee of the borrower.
Where an exporter or project sponsor provides whole or partial guarantees of future payment.
Keywords:  liability, personal
personal liability.