Factoring Agreement Draft With Example In Broward

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

Description

The Factoring Agreement draft with example in Broward outlines the terms between a Factor and a Client regarding the assignment of accounts receivable. This agreement allows the Client, engaged in credit sales, to obtain funds by selling its receivables to the Factor. Key features include the assignment of accounts receivable, credit approval processes, and stipulations for the assumption of credit risks. It specifies that the Factor will assume losses from insolvency for approved accounts but holds the Client accountable for risks associated with Client Risk Accounts. Filling out the form requires parties to provide their names, business details, and specific terms such as commission percentages and payment timelines. This agreement serves essential business needs for attorneys, partners, and owners by providing a legal framework for financial transactions; associates and paralegals can ensure compliance with the terms outlined; and legal assistants can facilitate the completion of necessary documentation. Overall, the form is a critical tool for managing cash flow and credit risks in business operations.