Factoring Agreement Meaning With Tamil With Example In Kings

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

Description

The factoring agreement is a legal document outlining the terms under which a factor purchases accounts receivable from a seller. In Tamil, it can be understood as 'பார்வை அஞ்சலிகளின் ஒப்பந்தம்', where 'பார்வை' refers to the act of factoring, and 'அஞ்சலிகள்' means accounts or receivables. For example, a company named Kings that sells products on credit may benefit by receiving immediate cash flow by selling its receivables to a factor instead of waiting for customer payments. This agreement includes key features like the assignment of accounts receivable, credit approval requirements, and the responsibilities of both parties regarding the management of sales and collections. It also outlines procedures for handling returned merchandise and the assumption of credit risks by the factor. Filling the form requires specifying details such as party names, addresses, and monetary terms. Target users such as attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form for effective cash flow management, securing financing against receivables, and reducing risks associated with selling on credit.