Form Assignment Accounts With Money In California

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

Description

The General Form of Factoring Agreement regarding the Assignment of Accounts Receivable is a legal document used in California to facilitate the transfer of accounts receivable from a seller (Client) to a factor (Factor). This form outlines the terms under which the Client assigns their receivables to the Factor for purchasing funds and credit enhancement. Key features include provisions for credit risk assignment, sales delivery protocol, and the handling of returned merchandise. Filling and editing instructions stress the need for clear details on the nature of the business and the terms of the agreement, including commission rates and payment timelines. For attorneys, this form provides a framework to protect their client's financial interests, while partners and owners can utilize it to secure the liquidity necessary for operations. Associates, paralegals, and legal assistants will find value in understanding the document's structure and facilitating accurate completion to ensure compliance with the law. This Agreement is essential for businesses looking to convert receivables into immediate cash flow while managing credit risks effectively.