Factoring Agreement Document With Recourse In Kings

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

Description

The Factoring Agreement Document with Recourse in Kings outlines the terms between a factor and a client for the purchase of accounts receivable. This agreement allows the client to leverage its receivables for immediate funding while defining the responsibilities of both parties. Key features include the assignment of accounts receivable, sales and delivery provisions, credit approval conditions, and the assumption of credit risks under specific circumstances. The document also stipulates the purchase price calculation, the rights to inspect financial records, and the governance of disputes through arbitration. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in commercial finance because it provides a clear framework for structuring and managing factoring arrangements, ensuring compliance with legal standards, and managing credit risk effectively. Users must fill in specific details such as names, addresses, and terms before execution. It serves to protect both the factor's and client's interests in financial transactions.