Without Recourse Definition | Becker
Accounting Dictionary
Without Recourse
If an assignment of accounts receivable is without recourse, the assignee (the factor) assumes the risk of any losses on collections. If the assignee is unable to collect all of the accounts receivable, it has no recourse against the assignor. See also factoring of accounts receivable and pledging of accounts receivable.
Related Terms:
Factoring of Accounts Receivable [FARBAR]Pledging of Accounts Receivable [FARBAR]Back to Dictionary