Which is an example of recourse in a sentence?
Definition of Recourse. options or assistance during a difficult period or situation. Examples of Recourse in a sentence. Before hospitals, midwives were often the only recourse for expectant mothers. ?. Laid-off workers have no other recourse than to file for jobless benefits.
What does it mean to have a recourse invoice?
A financial product with recourse simply means that the business will remain liable for debts that are not settled by customers. Where the funder is unable to collect payment, the business will be required to refund the cash advance made against that particular invoice.
What does factoring with or without recourse mean?
Factoring is a contract where a company transfers or sells its accounts receivable balance (the debtors balance) to a factor, usually a specialized factoring provider. This factoring can be with or without recourse to the factor.
Which is the only recourse for an expectant mother?
options or assistance during a difficult period or situation Before hospitals, midwives were often the only recourse for expectant mothers. ? Laid-off workers have no other recourse than to file for jobless benefits. ? Since the insurance company will not pay for Tim’s deck damage, Tim’s only recourse is a bank loan. ?
What does recourse in financing mean?
A recourse loan is a form of secured financing. It lets the lender go after the debtor’s other assets that were not used as loan collateral or to take legal action in case of default in order to pay off the full debt. A recourse loan allows the lender to seize the collateral and any other assets the borrower has if they default.
What is a synonym for recourse?
recourse, refuge, resort(noun) something or someone turned to for assistance or security. “his only recourse was the police”; “took refuge in lying”. Synonyms: repair, sanctuary, resort, stamping ground, asylum, holiday resort, hangout, recourse, refuge, resort hotel, haunt, safety.
What does no recourse mean?
no recourse. Notation indicating lack of means or legal right to obtain a judgment against, or reimbursement from, a defaulting or opposing party.
What is the noun for recourse?
Recourse. Noun. Definition: A type of mortgage loan in which the lenders remedies in the event of borrower default are unlimited, extending beyond the property to the borrowers personal assets.