Factoring Agreement General Format In Harris

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

Description

The Factoring Agreement general format in Harris provides a structured framework for the assignment of accounts receivable between a Factor and a Client. The agreement outlines the responsibilities of both parties, including the assignments of accounts receivable, sales and delivery procedures, and credit approval processes. Key features include the terms for factoring receivables, the process for invoices, and the handling of deliverables, which must be approved by the Factor's credit department. It specifies how profits and losses are reported, and includes clauses on power of attorney, breach of warranty, termination procedures, and dispute resolution via mandatory arbitration. This document serves the legal community—attorneys, partners, owners, associates, paralegals, and legal assistants—by providing a clear format that facilitates understanding and compliance with factoring transactions. Users can utilize the detailed instructions in the agreement to ensure proper completion and modifications are made, catering to those needing to structure financing through receivables effectively.