Factoring Agreement Sample With Retainer In Franklin

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

Description

The Factoring Agreement Sample with Retainer in Franklin outlines the terms for the assignment of accounts receivable between a 'Factor' and a 'Client.' It details the responsibilities of both parties, including the assignment of receivables, sales and delivery of merchandise, credit approval processes, and assumptions of credit risk. This form includes specific clauses addressing the purchase price, reporting requirements, and ensures that Client maintains solvency. It emphasizes the need for clear notification to customers regarding the transfer of accounts and establishes terms for recourse against the Client in case of credit risk. For attorneys, partners, and associates, this agreement serves as a foundational document for facilitating financial transactions through factoring, ensuring legal protection. Paralegals and legal assistants can utilize this form to streamline document preparation, ensuring compliance with legal standards and effective communication of terms to clients. Overall, the agreement aids various stakeholders in maximizing cash flow while minimizing risks associated with accounts receivable.