Form Assignment Accounts For Fellow Passenger In Arizona

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

Description

The Form Assignment Accounts for Fellow Passenger in Arizona is a legal document designed to facilitate the sale and assignment of accounts receivable between a factor and a client. This agreement allows the client to obtain necessary funds by assigning their receivables to the factor, who then takes on the responsibility of collection. Key features include the assignment of receivables, conditions for sales and deliveries, credit approval processes, assumptions of credit risks, and stipulations regarding payment and profit reporting. Filling out the form requires specific details such as the names of the factor and client, business descriptions, timelines for reporting profits, and commissions to be paid to the factor. It's especially useful for attorneys, partners, and paralegals involved in financial transactions, as it provides clarity on responsibilities and risk management. Legal assistants can benefit from understanding the detailed provisions when preparing these documents for clients. Overall, this form simplifies the complex process of accounts receivable management in Arizona, ensuring both parties are protected and informed.