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Ian from Eagle Business Credit discusses the process of switching factoring companies. He emphasizes the importance of examining your current contract for minimum volume requirements and early termination penalties. If you're nearing the end of a contract or have recently signed a long-term deal, the costs of moving may be significant. Ian encourages anyone unsure about their contract to contact them for a free review, providing guidance on potential termination or transition options. He acknowledges that concerns about continuity of funding can also deter businesses from making a change, especially when considering partnerships with members of the International Factoring Association.
