Agreement General Form Formula In Fulton

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

Description

The Agreement general form formula in Fulton is a legal document designed for the assignment of accounts receivable between a factor and a client. This agreement outlines the terms under which a client can sell their receivables to a factor, providing them with immediate funds and commercial credit for their operations. Key features include the assignment of accounts receivable, credit approval processes, purchase price determination, and the assumption of credit risks associated with those accounts. The form includes detailed provisions on invoicing, rights under client contracts, and compliance with tax obligations, ensuring clarity and protection for both parties. Filling and editing instructions emphasize the need for accurate completion of party details, specifics about the business, and financial arrangements. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financing arrangements, as it provides a clear framework for managing creditor relationships and obligations. The form facilitates transparent communication between the involved parties, outlines breach of warranty conditions, and provides a pathway for dispute resolution through mandatory arbitration. Users are advised to consult legal counsel for tailored guidance when completing the agreement.