Factoring Agreement Sample With Recourse In Kings

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

Description

The Factoring Agreement Sample with Recourse in Kings outlines a contractual arrangement between a Factor and a Client, primarily allowing the Client to secure funds by assigning accounts receivable to the Factor. Key features include the assignment of accounts receivable, provisions for sales and delivery of merchandise, credit approvals, and the assumption of credit risks by the Factor, except for specified accounts deemed Client Risk Accounts. Users must complete the document by filling in specific details such as names, dates, and percentages, and should be mindful of compliance with the conditions stipulated in the Agreement. This form is particularly useful for attorneys, business partners, and legal assistants who facilitate financing arrangements for businesses, ensuring clarity in rights and responsibilities related to accounts receivable management. The structure of the form aids in maintaining transparency, outlining obligations for credit monitoring and reporting. Overall, this Agreement provides a streamlined process for managing receivables and offers protection against credit risk while ensuring proper documentation is maintained.