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Paying a factoring company
September 22, 2023
Q. We received a letter from a vendor stating they assigned their AR to a factoring company. They want all future payments to be made payable and sent to the factoring company. Do we need a new W-9 for the factoring company? We have a W-9 for the vendor but do we change the name to the factoring company but still file under the vendor? Are we OK to adjust the name on the check to the factoring company without a W-9 for them?
A.
(Answered by Debra Richardson, a third-party Vendor Master File…
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