"This is the estimated cost of your financing expressed as a yearly rate. APR includes the amount and timing of the funding you receive, fees you pay, and payments made to [name of financer]. This estimate assumes that you will assign the [description of legally enforceable claim assigned, e.g. "invoice"] to [name of financer] today, the [description of legally enforceable claim assigned] is due in [term] and your customer will pay the [name of legally enforceable claim assigned, e.g. "invoice"] in full on the due date."
Cal. Code Regs. Tit. 10, § 913
Note: Authority cited: Sections 321 and 22804, Financial Code. Reference: Sections 22800, 22802, 22803 and 22804, Financial Code.