Factoring Agreement Sample With Price In Chicago

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

Description

The Factoring Agreement sample with price in Chicago is a legal document that outlines the terms between a Factor, who purchases accounts receivable from a Client, and the Client engaged in selling merchandise on credit. Key features include the assignment of accounts receivable, credit approval processes, and the conditions under which the Factor assumes credit risks associated with the purchased receivables. The agreement specifies procedures for sales notifications, invoicing, credit limits, and the process for handling returned merchandise. Additionally, it covers financial aspects such as the purchase price calculation, remittance of funds, and obligations for maintaining records. Filling and editing instructions emphasize the need to customize various sections such as named parties, commission rates, and time frames. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may need to facilitate business financing arrangements or advise clients on managing their accounts receivable efficiently.