New York Laws
Article 8 - Commercial Financing
806 - Factoring Transaction Disclosure Requirements.

(a) The amount of the receivables purchase price paid to the recipient
and, if different from the purchase price, the amount disbursed to the
recipient after any fees deducted or withheld at disbursement.
(b) The finance charge.
(c) The estimated annual percentage rate, using that term, calculated
according to the federal Truth in Lending Act, Regulation Z, 12 C.F.R. §
1026 Appendix J, as a "single advance, single payment transaction",
regardless of whether such act or such regulation would require such a
calculation. To calculate the estimated annual percentage rate, the
purchase amount is considered the financing amount, the purchase amount
minus the finance charge is considered the payment amount, and the term
is established by the payment due date of the receivables. As an
alternate method of establishing the term, the provider may estimate the
term for a factoring transaction as the average payment period, its
historical data over a period not to exceed the previous twelve months,
concerning payment invoices paid by the party owing the accounts
receivable in question.
(d) The total payment amount, which is the purchase amount plus the
finance charge.
(e) A description of all other potential fees and charges that can be
avoided by the recipient.
(f) A description of the receivables purchased and any additional
collateral requirements or security interests.