Does unbilled cost-in-excess count toward the borrowing base at term sheet?
The OCC Comptroller's Handbook on Asset-Based Lending lists "Unbilled accounts receivable" among "receivables commonly designated as ineligible."
Last updated: August 27, 2026
What does OCC print?
That ineligible-list item is the allowed print. The OCC handbook does not print a "because no invoice has been issued" reason next to it.
What does ABL Advisor print on under- and over-billings?
ABL Advisor prints "cost in excess of billings ('Under Billings,' an asset on the balance sheet) and billings in excess of cost ('Over Billings,' a liability on the balance sheet)."
| Printed term | Source | What the source prints |
|---|---|---|
| Unbilled accounts receivable | OCC ABL handbook | Commonly designated as ineligible |
| Under Billings / cost in excess of billings | ABL Advisor | Asset on the contractor balance sheet |
| Over Billings / billings in excess of cost | ABL Advisor | Liability on the contractor balance sheet |
| 70 percent to 85 percent of eligible accounts receivable | OCC ABL handbook | Common advance rates |
Related topics
- Before binding an ABL revolver, which AR lines are ineligible?
- Progress billings in borrowing base before bind
- Billings-in-excess liability vs unbilled asset
- Construction AR vs manufacturing AR at bind
- Work-in-process schedule borrowing-base certificate
Frequently asked questions
Does unbilled cost-in-excess count toward the borrowing base at term sheet?
The OCC lists "Unbilled accounts receivable" as commonly ineligible. ABL Advisor prints Under Billings as an asset and Over Billings as a liability.