Agreement Receivable Statement With Balance Sheet In Fairfax

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

Description

The Agreement Receivable Statement with Balance Sheet in Fairfax outlines the terms between a Factor and a Client for the purchase of accounts receivable. This form serves as a critical tool for businesses seeking immediate cash flow by converting credit sales into liquid assets. It details the assignment of receivables, sales procedures, credit approvals, and the obligations regarding warranties and liabilities. The form provides clear instructions on how to report financials, including monthly profit and loss statements and semiannual balance sheets. It is especially useful for attorneys, partners, and owners as it ensures legal protection and clarity in financial dealings. Paralegals and legal assistants can assist in filling out and editing the form accurately to meet client needs. Additionally, this agreement highlights the process of arbitration for dispute resolution, making it vital for those managing commercial agreements in Fairfax.