Factoring With Contract In Alameda

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

Description

The General Form of Factoring Agreement regarding the Assignment of Accounts Receivable is a contract designed for businesses in Alameda seeking to obtain commercial credit by selling their accounts receivable to a third-party factor. This agreement details the assignment process, including the types of receivables covered, such as accounts, notes, and other forms of business obligations. Key features include stipulations on the sales and delivery of merchandise, credit approval, and assumptions of credit risks by the factor. Additionally, it outlines the purchase price calculations, reserve accounts, and warrants related to the financial status and operations of the client. The form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in drafting, reviewing, or executing financial agreements, providing a structured framework for securing funding. Users can efficiently fill out and edit the contract based on specific business needs while ensuring compliance with local laws. This agreement facilitates smoother financial transactions and credit management, minimizing potential disputes between the involved parties.