Many credit contracts contain a provision that requires all disputes to go through arbitration, instead of the courts. Arbitration is often viewed as being quicker and less expensive than litigation. In arbitration, the parties present their arguments and evidence to an arbitrator, which is a neutral third-party, instead of a judge.
Assets are everything owned by a business or an individual. They can be many things: real estate, stocks and shares, possessions, undeclared bank accounts, intellectual property rights, company assets (eg property, plant and equipment), vehicles, livestock, yachts and, of course, money.
The nature of certain industries is that products or services may be provided prior to receiving payment and subsequently billed to the customer. This is the “accounts receivable” that must be effectively balanced in order for a business to remain sustainable.