/fæk.tər.ɪŋ əˈɡriː.mənt/ – Phrase
Definition: Hợp đồng nhượng quyền tín dụng.
A more thorough explanation: a deal in which a company sells its outstanding debts to a third-parts (the factor) at a reduced price
Example: Excluded Liabilities shall include any Factoring Agreement or other financing terms.