Agreement Receivable Statement With Multiple Conditions In Arizona

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

Description

The General Form of Factoring Agreement regarding the Assignment of Accounts Receivable is a legal document designed to formalize the arrangement between a Factor, who purchases accounts receivable, and a Client, who assigns those receivables for immediate funding. This Agreement includes multiple conditions tailored for businesses operating in Arizona, specifying the terms of assignment, sales and deliveries, credit approvals, and risk assumptions. Key features include the definition of receivables, provisions for credit limit adherence, and the responsibilities of both parties regarding merchandise returns and claims. It emphasizes the necessity for the Client to maintain clear communication and provide accurate financial documentation to the Factor. The form requires specific instructions on filling out and editing, such as entering names, addresses, and financial figures accurately. This Agreement serves various use cases, particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants who need a structured approach to managing accounts receivable transactions and mitigating credit risks. It ensures clarity in financial transactions and establishes a secure framework for business operations.