Factoring Agreement Document Without Comments In Broward

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

Description

The Factoring Agreement document outlines a legal framework between a Factor and a Client for the purchase of accounts receivable. It begins with a preamble detailing the intent of the Client to obtain funding through their receivables, which the Factor agrees to purchase under specified conditions. Key features of the document include the assignment of accounts receivable, sales and delivery protocols, and credit approval processes. It stipulates that all sales must include a notice of assignment to the customers, and the Factor assumes certain credit risks, maintaining rights over customer accounts. The Client is also required to provide timely financial reports and to ensure that all claims against customers are handled efficiently. This form is particularly useful for attorneys, partners, and paralegals in structuring agreements that protect their client's financial interests. Moreover, it serves as a guide for owners and associates in managing financial transactions related to credit sales, ensuring compliance with legal requirements while facilitating business operations.