Agreement Accounts Receivable For Cash In Wake

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

Description

The Agreement accounts receivable for cash in Wake serves as a legal framework for the assignment of accounts receivable from a seller, referred to as Client, to a corporation, known as Factor. The form outlines key features, including the assignment of all current and future receivables, credit approval processes, and provisions for the assumption of credit risks, making it essential for businesses seeking immediate cash flow against outstanding invoices. Filling and editing instructions dictate that the parties must provide their full names, addresses, and specify the percentage rates applicable to commissions and interest. The agreement also emphasizes clear communication with clients regarding the assignment of their accounts and allows Factor to collect on these accounts in its name. This form is particularly useful for attorneys, partners, and owners who manage business finances, as well as associates, paralegals, and legal assistants who may facilitate the documentation process. It provides legal protections and establishes the binding conditions under which accounts receivable are sold, ensuring clarity in financial transactions and obligations.