Agreement Accounts Receivable For Cash In King

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

Description

The Agreement Accounts Receivable for Cash in King is a legal document detailing the terms of a factoring agreement between a Factor and a Client seeking to sell their accounts receivable for immediate cash. This form outlines critical aspects such as the assignment of accounts receivable, sales and delivery of merchandise, credit approval, and the assumptions of credit risks related to the sold receivables. It stipulates that the Client must assign accounts receivable to the Factor without recourse, providing assurance that these are genuine obligations from customers. Key features include the ability for the Factor to collect accounts, maintain rights under Client contracts, and charge appropriate commissions and fees. Filling out this form requires clear identification of the parties involved, signature by authorized representatives, and adherence to specific procedures for invoicing and payment collection. Use cases for this document are relevant for attorneys, partners, owners, associates, paralegals, and legal assistants who facilitate financing solutions for businesses or assist clients in managing their cash flow through the sale of receivables. By utilizing this form, users gain access to immediate funding while transferring associated credit risks, making it a valuable tool in commercial finance.