Agreement Accounts Receivable With Credit Card In Broward

• Category: Contracts - Factoring
• State: Multi-State
• County: Broward
• Control #: US-00037DR
• Format: Word; Rich Text

Description

The Agreement for Accounts Receivable with Credit Card in Broward is a comprehensive contract between the Factor and the Client that establishes the terms under which accounts receivable will be sold and financed. This form allows the Client, a business engaged in credit sales, to obtain immediate cash flow by assigning its accounts receivable to the Factor without recourse, meaning the Factor assumes the credit risk. Key features include a detailed assignment of accounts receivable, credit approval processes, and stipulations for sales and deliveries. Filling instructions include inserting the names of the parties, effective dates, and specific percentages and limits relevant to the transaction. The form is designed for attorneys, partners, and paralegals, providing clarity on legal obligations and rights under this agreement. Additionally, it outlines how to handle returned merchandise and how the communication of invoices will occur, ensuring all parties are compliant with the terms. The Agreement is beneficial for parties needing to efficiently manage cash flow while minimizing credit risk exposure.