Factoring Purchase Agreement With Loan In Fulton

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

Description

The Factoring Purchase Agreement with Loan in Fulton is a comprehensive legal document that facilitates the sale of accounts receivable from a seller (Client) to a factoring company (Factor). This agreement details the responsibilities of both parties regarding the assignment of accounts receivable, including sales and delivery notifications, credit approval processes, and the handling of credit risks. Key features include the determination of the purchase price for received accounts, the provision for regular financial reporting, and the establishment of power of attorney for the Factor to act on behalf of the Client. It also outlines provisions for breach of warranty, termination, and dispute resolution through mandatory arbitration. The form is useful for various legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear template to streamline the management of client receivables and reduce credit risk while ensuring adherence to legal standards. Filling the form requires attention to detail, particularly in specifying terms, payment conditions, and financial disclosures, ensuring all parties understand their obligations and rights under the agreement.