Factoring Agreement Editable With Recourse In Bexar

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

Description

The Factoring Agreement editable with recourse in Bexar is a legal document outlining the terms under which a factor purchases accounts receivable from a client, allowing the client to obtain funds based on their credit sales. This agreement specifies that the accounts receivable are assigned to the factor as absolute owner while allowing for recourse in certain situations. Key features include the assignment of accounts receivable, sales and delivery of merchandise requirements, credit approval processes, the assumption of credit risks by the factor, and important warranties by the client regarding solvency and account status. Filling and editing this form requires careful attention to provide accurate details such as business names, addresses, and specific percentages for commissions and reserves. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this agreement to facilitate cash flow for businesses, manage debts, and outline the responsibilities of both parties. The form is particularly useful in structuring financial arrangements while ensuring compliance with applicable laws and regulations.