Agreement General Form With 2 Points In Bronx

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

Description

The Agreement General Form with 2 Points in Bronx serves as a structured contract between a factor and a client for the purchase of accounts receivable. This form outlines the procedures for the assignment of receivables, ensuring that clients can secure funding against credit sales with the assurance of clear ownership and collection rights for the factor. Key features of the form include the explicit assignment of accounts receivable, stipulations on the sales process, and provisions for credit risk management. Filling instructions require users to specify the names of the factor and client, as well as detailed terms regarding commission percentages and the duration for payment collection. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in managing client agreements related to accounts receivable, as it provides a clear framework to avoid disputes and ensure legal compliance. It can be utilized in scenarios such as small business financing, where immediate cash flow is essential and accounts receivable are a major asset. By establishing defined responsibilities and rights, this agreement mitigates risk for both parties involved.