Factoring Agreement Editable Formula In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Agreement editable formula in Broward is a legally binding contract designed for businesses seeking immediate funding against their accounts receivable. This form facilitates the sale of accounts receivable from a seller (the Client) to a factoring company (the Factor), which provides cash upfront while taking on the risk of non-payment. Key features include detailed provisions on the assignment of accounts, credit approval processes, buyer's obligations, reporting requirements, and conditions for defaults and terminations. To fill and edit the form, users must ensure all fields are accurately completed with company names, addresses, and relevant dates. This agreement is particularly useful for attorneys, partners, and owners in managing business finances, allowing for smoother cash flow and reduced financial risk. Legal assistants and paralegals can utilize this form to support clients in understanding and negotiating their factoring agreements efficiently.
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FAQ
A factoring relationship involves three parties: (i) a buyer, who is a person or a commercial enterprise to whom the services are supplied on credit, (ii) a seller, who is a commercial enterprise which supplies the services on credit and avails the factoring arrangements, and (iii) a factor, which is a financial ...
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 ...
