Agreement Receivable Statement With Multiple Conditions In King

State:
Multi-State
County:
King
Control #:
US-00037DR
Format:
Word; 
Rich Text
Instant download

Description

A factor is a person who sells goods for a commission. A factor takes possession of goods of another and usually sells them in his/her own name. A factor differs from a broker in that a broker normally doesn't take possession of the goods. A factor may be a financier who lends money in return for an assignment of accounts receivable (A/R) or other security.

Many times factoring is used when a manufacturing company has a large A/R on the books that would represent the entire profits for the company for the year. That particular A/R might not get paid prior to year end from a client that has no money. That means the manufacturing company will have no profit for the year unless they can figure out a way to collect the A/R.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

Answer and Explanation: The quality of receivables refers to the likelihood of collection without loss.

Accounts receivable are listed under the current assets section of the balance sheet and typically fluctuate in value from month to month as the company makes new sales and collects payments from customers.

The four types of accounts receivable are trade receivables, or accounts reflecting the sale of goods or services; non-trade receivables, or accounts not related to the sale of goods or services, like loans, insurance claims, and interest payments; secured receivables, which are backed by collateral and enshrined by a ...

Explanation: Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. They are considered an asset in financial accounting. Assets appear on the balance sheet of a business.

More info

This usually involves filling out an online form with basic business information, like company name, revenue details, and time in business. Financing statements often contain broad asset descriptions, which will include all of the receivables of the originator.Our best-in-class platform delivers sophisticated, flexible, and complete working capital solutions across the entire cash conversion cycle.

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Agreement Receivable Statement With Multiple Conditions In King