Agreement General Form Contract For Smart In Kings

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

Description

The Agreement General Form Contract for Smart in Kings is designed for parties engaged in factoring agreements regarding the assignment of accounts receivable. This contract outlines the terms under which a Client assigns their accounts receivable to a Factor for immediate financing. Key features include the assignment of accounts receivable, conditions for sales and delivery of merchandise, and credit approval processes. The form specifies the purchase price, factors governing amounts owed to the Factor, and warranties related to solvency and assignment. It is suitable for attorneys, partners, owners, associates, paralegals, and legal assistants who seek to facilitate funding through accounts receivable, manage financial risks, and ensure compliance with legal obligations. Filling instructions emphasize the need for precise information about the parties involved and terms of the agreement, while editing instructions guide users in customizing provisions to fit specific business scenarios. The form is useful for businesses requiring cash flow, as it allows the sale of receivables to a third-party Factor, thereby improving liquidity and reducing credit risk.