Agreement Receivable Statement With Multiple Conditions In Montgomery

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

Description

The Agreement Receivable Statement with Multiple Conditions in Montgomery serves as a formal contract between a Factor and a Seller, outlining the terms for the assignment and purchase of accounts receivable. It enables Sellers to obtain immediate funds against their credit sales, as the Factor assumes the credit risk associated with these accounts. The document details essential elements such as the assignment process, credit approval requirements, profit-sharing terms, and obligations for reporting, ensuring transparency and clarity in transactions. Specific provisions also govern the responsibilities of both parties regarding customer notifications and recourse options for any delinquent accounts. This form is particularly useful for professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants, as it streamlines the legal aspects of account management and reduces risks associated with credit sales, enabling effective financial planning and legal compliance. By following the specified instructions for filling and editing, users can customize the form to meet their specific needs, ensuring it adheres to local legal standards and business practices.