Agreement General Form With Collateral In Kings

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

Description

The Agreement General Form with Collateral in Kings is a structured document that outlines the terms under which a Factor purchases a Client's accounts receivable. This agreement is vital for businesses looking to secure immediate funding based on their credit sales, allowing them to operate without financial delays. It specifies the assignment of accounts receivable to the Factor, ensuring that the Factor becomes the absolute owner of these debts. Key features include provisions for sales and delivery of merchandise, credit approval processes, and detailed instructions for documenting transactions. The agreement also contains warranties regarding the solvency of the Client and the legitimacy of the accounts being assigned. It addresses the responsibilities of both parties, including remittance schedules and actions to be taken in case of customer defaults or disputes. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for establishing a financial relationship that mitigates risks and ensures compliance with legal standards while enhancing cash flow.