Agreement Accounts Receivable Without Recourse In California

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

Description

The Agreement Accounts Receivable Without Recourse in California is a legal document facilitating the sale and assignment of a seller's accounts receivable to a factor. This agreement allows the seller (Client) to obtain funds by selling their credit sales, while the factor assumes the risk of non-payment without recourse to the Client, subject to specific terms outlined in the document. Key features include the detailed assignment process for accounts receivable, stipulations for merchandise sales and deliveries, credit approval requirements, and the rights of both parties regarding credit risks and disputes. Filling and editing instructions emphasize the necessity to accurately provide names, dates, and satisfactory evidence of receivables. This Agreement is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions, as it outlines clear terms of obligation and responsibility. Legal professionals can utilize the form to protect their clients' interests while ensuring compliance with California laws governing factoring transactions.