The BRSA issued a circular on 8 July 2010 to clarify the responsibilities of factoring companies. The BRSA states that factoring companies are responsible for monitoring whether invoices or other documents that a transaction is based on are valid and binding and whether cheques or deeds received should be evaluated as securities. The BRSA further lists rules in relation to providing financing to customers of factoring companies in the delivery of legally binding invoices or similar deeds only, the validity of which is checked by internal control systems. The purpose of the rules is to overcome present problems and to prevent any illegalities.