Agreement Accounts Receivable Without Recourse In Riverside

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

Description

The Agreement Accounts Receivable Without Recourse in Riverside is a legal document facilitating the sale of accounts receivable from a seller (Client) to a factoring company (Factor). This agreement allows the Client to receive funding by transferring their credit sales to the Factor, who assumes the credit risk attached to those receivables. Key features include the absolute assignment of accounts, sales delivery stipulations, credit approval processes, and clear definitions regarding the handling of any potential customer disputes. The document outlines the conditions under which the Factor accepts these receivables and their rights to enforce collection. Filling and editing instructions encourage ensuring that all necessary fields, such as names and dates, are correctly completed and that all parties maintain compliance with the terms outlined. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it clarifies the legal obligations and rights when engaging in factoring transactions, aiding in the management of clients' finances, and safeguarding against potential losses.