Form Assignment Account Without Confirmation In Miami-Dade

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

Description

The Form Assignment Account Without Confirmation in Miami-Dade serves as a legal document enabling a seller to assign their accounts receivable to a factor, thus providing immediate cash flow against outstanding credit sales. This form facilitates a clear transfer of ownership of accounts receivable, ensuring factors can collect payments without recourse to the seller, unless outlined otherwise. Key features include the assignment terms, sales and delivery stipulations, client credit risk management, purchase pricing details, and a warranty of solvency, all tailored to minimize disputes during the receivables’ collection process. It mandates that all sales be conducted in the client's name, clearly informing customers that payments should be directed to the factor, which solidifies the factor’s authority in collections. The form also emphasizes the submission of regular financial statements to maintain oversight of the client’s accounts. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form invaluable for securing quick capital through receivables, managing client financial risk, and ensuring adherence to proper legal protocols in financial transactions.