Nothing in this chapter shall prevent a provider from providing or disclosing additional information on a sales-based financing being offered to a recipient, provided, however, that such additional information shall not be disclosed as part of the disclosure required by this chapter.

Terms Used In Virginia Code 6.2-2233

  • provider: means a person that extends a specific offer of sales-based financing to a recipient. See Virginia Code 6.2-2228
  • Recipient: means a person whose principal place of business is in the Commonwealth and that applies for sales-based financing and is made a specific offer of sales-based financing by a provider. See Virginia Code 6.2-2228
  • Sales-based financing: means a transaction that is repaid by the recipient to the provider, over time, as a percentage of sales or revenue, in which the payment amount may increase or decrease according to the volume of sales made or revenue received by the recipient. See Virginia Code 6.2-2228

2022, c. 516.

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