Accounts Payable Information Guide

Your company has recently received a Notice of Assignment (“NOA”) relating to invoices issued by your vendor.

This short guide is provided to help Accounts Payable teams understand the purpose of the notice and assist with internal processing or verification.

Questions or Verification

Capital Now Ventures
Operating as Capital Now

Phone: 403.617.2075
Email: luke@capitalnow.ca
Website: capitalnow.ca

  • Your vendor has partnered with Capital Now to assist with the administration and financing of its accounts receivable.

    As part of this arrangement, your vendor has assigned certain present and future invoices owing from your company to Capital Now.

    The Notice of Assignment simply directs that payment for those invoices be remitted to Capital Now rather than directly to the vendor.

    Arrangements of this type are commonly used by businesses to manage working capital and receivables administration.

  • No.

    The assignment relates only to the direction of payment.

    It does not change:

    • the underlying contract
    • pricing or scope of work
    • delivery obligations
    • payment terms
    • your internal approval procedures

    Your vendor remains fully responsible for providing the goods or services under your agreement.

  • Accounts Payable should update the vendor record to reflect the payment direction contained in the Notice of Assignment.

    Once updated, payments relating to current and future invoices issued by your vendor should be remitted in accordance with the Notice of Assignment until written notice of change is provided.

    Written confirmation that the update has been made helps ensure both companies’ records remain consistent.

  • Many companies require confirmation that payment direction changes have been properly recorded.

    Written confirmation helps ensure:

    • payments are processed correctly
    • internal controls are satisfied
    • both companies have clear documentation of the change

    A brief reply confirming the update is sufficient.

  • Yes.

    Assignments of receivables are governed by applicable Personal Property Security Act (PPSA) legislation across Canadian provinces.

    Once notice of assignment has been received, payments made in accordance with that notice properly discharge the payment obligation for the invoices involved.

  • We understand that many organizations have internal procedures for verifying payment direction changes.

    If verification is required, you may:

    • contact your regular representative at your vendor
    • contact Capital Now directly using the information below
    • request confirmation of the assignment documentation
    • request a verification call involving your team, your vendor, and Capital Now

    Accounts Payable teams are encouraged to complete any internal verification procedures necessary to update payment instructions with confidence.

  • For companies operating in construction or project-based industries, the assignment of receivables does not change:

    • statutory holdback requirements
    • lien rights under applicable construction legislation
    • contractual performance obligations
    • normal invoice approval procedures

    The assignment relates solely to the direction of payment for invoices once they are approved and payable.

  • Capital Now is a Canadian commercial finance company that provides receivables financing and administrative services to businesses in sectors including construction, energy services, manufacturing, and professional services.

    Capital Now works directly with vendors and their customers to ensure invoices and payments are handled in an orderly and transparent manner.