Factoring Agreement With Recourse In Orange

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

Description

The Factoring Agreement with Recourse in Orange is a contractual document that facilitates the sale of accounts receivable from a client (seller) to a factor (purchaser) under agreed terms. This agreement allows the client to obtain immediate funds by selling its receivables while maintaining liability for any uncollected amounts, as it includes provisions for recourse. Key features include the assignment of receivables, credit approval processes for sales, and stipulations on how risks and returns of merchandise are handled. Filling out this form involves specifying details such as parties involved, percentages for commissions, and terms of payment. The utility of this form is particularly pertinent for attorneys who may need to draft or review such agreements for clients in financial industries. Partners and owners can utilize this form to manage receivables efficiently, providing a structured approach to securing cash flow. Associates and paralegals will benefit from understanding the terms for compliance and support in the execution process. Legal assistants can help in maintaining records and ensuring that all necessary documentation is in place as per the agreement's terms.