Factoring Agreement Sample With Price In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Agreement sample with price in Bexar serves as a formal contract between a factor and a seller regarding the assignment of accounts receivable. This document outlines the sale of accounts receivable, allowing the seller to obtain immediate funds by selling their outstanding invoices to the factor. Key features include provisions for the assignment of receivables, credit approval requirements, and the handling of risks associated with customer insolvency. The agreement specifies the purchase price, which is calculated based on the net amounts of receivables after deducting the factor's commission. Filling and editing instructions include clear identification of parties, the specific percentages applicable to commissions, and the number of days required for various actions. Use cases relevant to attorneys, partners, owners, associates, paralegals, and legal assistants include assisting clients in securing financing, understanding the implications of credit risk, and ensuring compliance with legal requirements for assignments. Overall, this form provides a structured approach to managing cash flow through accounts receivable while mitigating financial risk.
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FAQ
The factoring agreement will also include representations that each factored account is bona fide and represents indebtedness incurred by the customer for goods actually sold and delivered to the customer; that there are no setoffs, offsets, or counterclaims against the account; that the account does not represent a ...
