Frequently asked.
Recourse, timing, documentation, pricing, and confidentiality. For anything not covered here, write to engagement@riffington.com.
is the purchase recourse or non-recourse?
Non-recourse. At closing, title transfers to Riffington as a true sale and non-payment risk transfers with it, subject only to the seller's limited representations and warranties (chiefly that the claim exists, is owned, and has not been assigned, settled, or released). The seller is not a guarantor of debtor performance.
how long from submission to offer to wire?
An indicative response is generally provided within three business days of receiving a redacted schedule. Following acceptance and complete documentation, closings typically occur within five to fifteen business days. A wire follows execution of the Assignment of Claims.
what documentation is needed?
For an indicative offer: a redacted schedule with claim age, jurisdiction, debtor type, and approximate face value per claim. For closing: invoices, supporting bills of lading or equipment interchange records where applicable, prior collection correspondence, and confirmation that the receivables have not been assigned, pledged, or settled.
how does riffington price a portfolio?
Pricing is a function of claim age, debtor profile, jurisdictional posture, documentation quality, and counterparty mix. For compliant demurrage and detention portfolios under eighteen months old, indicative advances generally range from 35% to 55% of face value. Older or thinly documented files price lower. Firm offers follow diligence.
what happens to the debtor relationship after assignment?
Recovery moves into Riffington's name and is conducted by retained maritime counsel. The original creditor is out — the firm does not act as the seller's agent or sub-contractor and does not invoke the seller's name in collection proceedings except as required by law or court rule.
is anything disclosed publicly?
No. Riffington does not publicly identify sellers, debtors, counsel, or matter-specific recovery activity. Aggregated representative-activity figures may be referenced in firm materials in non-identifying form. The full confidentiality posture is set out under confidentiality.