New York Consolidated Laws, Financial Services Law - FIS § 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.