Statement of work
A document that says what work will be done and how it will be accepted and billed.
Why it matters
A statement of work can determine whether an invoice is tied to completed, accepted services or still conditional. Factors may request it during verification.
Related terms
Related article: How to prepare invoices for factoring
Related reading
Sources
- International Factoring Association - International Factoring Association. Accessed 2026-05-19.
- Secured Finance Network - Secured Finance Network. Accessed 2026-05-19.
Financial disclaimer. This page is educational only and is not financial, legal, tax, accounting, or credit advice. Factoring terms vary by provider and contract. Read the full disclaimer.