Factoring Purchase Agreement With Cash In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Purchase Agreement with Cash in Maricopa is a legal document outlining the terms under which a factor (lender) purchases accounts receivable from a seller (client) to provide immediate cash flow for the client’s business operations. Key features of this agreement include the absolute assignment of accounts receivable, the requirement for sales notifications to customers, and the process for credit approval and risk assumption. Clients must follow specific protocols for invoicing and reporting to ensure compliance, and the agreement includes provisions for handling credit risks and disputes. It is designed for businesses that regularly sell on credit and need quick access to capital by leveraging their accounts receivable. Legal professionals, including attorneys, partners, and associates, can use this form to facilitate financial transactions for clients needing liquidity. Paralegals and legal assistants will find it useful for ensuring the accuracy and completeness of the requisite documentation during the execution of such agreements, effectively supporting clients in financial management.
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FAQ
The assignor must agree to assign their rights and duties under the contract to the assignee. The assignee must agree to accept, or "assume," those contractual rights and duties. The other party to the initial contract must consent to the transfer of rights and obligations to the assignee.
