Factoring Agreement Sample With Recourse In Maricopa

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

Description

The Factoring Agreement Sample with Recourse in Maricopa outlines the terms under which a factor purchases accounts receivable from a client, allowing the client to obtain immediate funds while the factor assumes certain risks associated with customer insolvency. Key features include provisions for the assignment of accounts receivable, conditions for credit approval, guidelines on the delivery of merchandise, and responsibilities for credit risks. The agreement establishes mechanisms for invoicing and collecting accounts while detailing the profit-sharing model that includes factor commissions. It necessitates the client to submit regular profit and loss statements and maintain books that reflect the transactions accurately. The form is particularly tailored to individual businesses engaging in credit sales, providing a structured framework for managing their accounts receivable efficiently. For target users like attorneys, partners, owners, associates, paralegals, and legal assistants, this form offers a critical resource for drafting legally binding agreements that protect their client's financial interests while complying with state laws. The clear editing instructions facilitate customization for different business needs, ensuring a streamlined process for legal professionals.