Factoring Agreement File With Recourse In Maricopa

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

Description

The Factoring Agreement file with recourse in Maricopa is a legal document that outlines the terms under which a 'Factor' purchases accounts receivable from a 'Client.' The agreement establishes the conditions for assignment, sales, credit approval, and the responsibilities of both parties. Specifically, it addresses the role of the Factor in assuming credit risks associated with the Client's receivables, while enabling the Factor to collect payments directly from customers. Key features include the ability for the Factor to send invoices, collect payments, and limit credit approval, all ensuring transparency and compliance in financial transactions. The form includes instructions for filling out various sections and emphasizes the need for all necessary documentation to be provided. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who work in business law or financial transactions. It facilitates clear agreements on the sale of receivables, promotes financial liquidity for clients, and helps mitigate risks associated with credit management.