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How dare they?

Although I have yet to see the letter in question, I have been told that a major bank has written to many of its clients instructing them that the notice period for their invoice financing facility has been extended from one month to three months. From this detail, those that know the market well will probably ascertain who the lender is.

If this is true this is a disgrace. Whilst im not a lawyer I would be fairly certain that you simply cannot alter such a fundamental part of the contract without agreement.That must surely be the case? It would be akin to advising a client that a tied in contract for 12 months has been unilaterally extended to 24 months

Banks have to act commercially of course but they should also be more aware of their public image, which is frankly terrible. Respect will not be garnered by scams such as this.

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