Factoring Agreement Sample With Retainer In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Agreement Sample with Retainer in Broward outlines the terms between a Factor and a Client regarding the assignment of accounts receivable. It details the responsibilities of both parties, including assignment of accounts, sales and delivery of merchandise, credit approval, and the assumption of credit risks. Key features of the agreement include the Factor's right to collect receivables, the requirement for the Client to adhere to established credit limits, and the provisions for resolving disputes through binding arbitration. Filling and editing instructions emphasize the necessity of client-specific information, such as names, addresses, and percentages, while ensuring compliance with the agreement's structure and provisions. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who facilitate business transactions, manage receivables, and seek financing solutions through factoring. The agreement not only provides a clear framework for all parties involved but also serves to mitigate risks associated with credit sales.
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FAQ
Agreement periods usually run up to five years, but initial retainer agreements are often reviewed and renewed annually—usually at the end of the financial year. Retainer hours are usually spent on recurring tasks that aren't major projects but are important to the client.
