Agreement Receivable Statement With Text In Pennsylvania

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

Description

The Agreement Receivable Statement with text in Pennsylvania is a legal document outlining the terms of a factoring agreement between a factor and a client regarding the assignment and purchase of accounts receivable. This form is instrumental for entities engaged in selling goods or services on credit, enabling them to obtain immediate liquidity by selling their receivables. Key features of the agreement include the assignment of accounts receivable, credit approval processes, and provisions related to credit risks. Clients are required to adhere to established credit limits and submit regular financial statements. This document also delineates the rights of both parties, outlining the factor's authority to collect debts and manage customer communications. Filling out this form requires clear identification of both parties, detailed descriptions of the business involved, and acceptance of the applicable terms, ensuring that all necessary information is thoughtfully included. Target audiences such as attorneys, partners, and paralegals will find this form crucial for managing client accounts and securing funding efficiently. Additionally, legal assistants will utilize this document for compliance purposes and to ensure that all contractual obligations are met, providing clear instructions for both parties involved.