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Accord Financial Corp. - Accord announces receivable purchase program agreement with Scotiabank Toronto - April 5, 2004: Accord Financial Corp. (TSX - ACD), a leading North American provider of asset-based financial services to businesses, including factoring, financing, credit investigation and guarantees, is pleased to announce that its wholly owned subsidiary Montcap Financial Corp. has signed a new agreement with Scotiabank to provide limited recourse receivable financing for Scotiabank commercial customers. This agreement is an extension of the existing strategic arrangement that has been in place between Scotiabank and Montcap since 2001 whereby Scotiabank has the opportunity to refer commercial customers in need of additional working capital to Montcap. "We are very proud that Scotiabank has decided to enter into this agreement, building on our existing relationship," said Fred Moss, President of Montcap. "Montcap Financial Corporation has significant experience in factoring accounts receivable and we are committed to providing superior services. We are confident that we can continue to provide Scotiabank customers with the excellent service to which they are accustomed." Accord's subsidiaries purchase their clients' accounts
receivable at a discount, in exchange for immediate
cash. Funding decisions are made quickly and are based
on the creditworthiness of the clients' customers. This
reliable and flexible facility provides cash flow relief
for businesses across North America seeking to better
manage their growth and take advantage of opportunities
that they may otherwise have to pass up.
Stuart Adair (416) 961-0304 ext. 207
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