Royal Financial

[CT2010]

If anyone looking to change or start factoring stay away from Royal Financial out of Vaughan,ON. They have clause in their contract that don't let you change without paying a massive fine. STAY AWAY. I learned the hard way

 

[htcollections]

Many of the factoring companies have such clauses. Its normal these days. Always good to read the contract before signing them.

 

[Sal S]

Ive been dealing with Royal Financial for some time now. Respectable people. Always read your agreement before signing them, otherwise its on you, no one else.

 

[CT2010]

Contract was read and re-read many times but even our Lawyers were surprised how they had this clause hidden within a clause. But hey its never too late to learn a Lesson in life and make your fellow members aware of it. Royal and Grand Financial are same thing just be aware

 

[htcollections]

All i was attempting to say is penalty clauses are normal these days. Most factoring people have them and they are written in to the contract. I wish you the best.

 

[Sal S]

CT 2010. Not aware that Grand and Royal are the same. I have not had issues with their collection staff personally, for either Grand or Royal.

 

[KeyFactor]

Termination fees are common, but typically not quantified, so the client may not be aware of the penalty involved until it is too late.

 

[Sal S]

I agree that termination fees are common. Its always important to read what you sign first.