Factoring Agreement Sample With Recourse In Bronx

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

Description

The Factoring Agreement sample with recourse in Bronx is a legal document that details the terms and conditions between a factor and a seller regarding the assignment of accounts receivable. Key features include the assignment of receivables to the factor without recourse, meaning the seller retains certain responsibilities for client risk accounts. The form requires that the seller manages sales and delivers merchandise under guidelines set by the factor, including proper invoice handling and credit approvals. Additionally, provisions for credit risk assumption, the calculation of purchase price, and regular financial reporting obligations are specified. This agreement is essential for businesses seeking immediate cash flow against receivables while establishing solid compliance protocols. The target audience, including attorneys, partners, owners, associates, paralegals, and legal assistants, will find this form useful for structuring financial transactions and ensuring legal protections are in place during factoring arrangements. Clear instructions for filling out the form and modification clauses are also included, making it user-friendly for those with varying levels of legal experience.