Factoring Purchase Agreement For Business In King
Category:
State:
Multi-State
County:
King
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Purchase Agreement for Business in King is a legal document that outlines the terms under which a business (the Client) sells its accounts receivable to a factoring company (the Factor) for immediate cash flow. This agreement details the responsibilities of both parties, including the Client's obligation to inform customers of the assignment of their receivables and the Factor's authority to collect debts. Key features include the assignment of accounts receivable, approval of credit sales by the Factor, and assumptions of credit risk. The form provides clear instructions for filling out critical sections such as the names of the parties, dates, and percentages related to fees. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it streamlines cash flow for businesses by converting receivables into immediate funds, while also providing legal protection and clarity in transactions. Additionally, the document serves as a framework for resolving disputes, addressing waivers, and ensuring the confidentiality of the terms agreed upon by both parties.
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FAQ
Documents you will have to provide: Factoring application. Articles of Association or registered Amendments to the Articles of Association of your company. Annual report for the previous financial year. Financial report (balance sheet andf profit/loss statement) for the current year (for 3, 6 or 9 months, respectively)
