Agreement Receivable Statement With Text In Philadelphia

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

Description

The Agreement Receivable Statement with Text in Philadelphia is a formal contract between a factor and a client, facilitating the purchase of accounts receivable from the client. This document is essential for businesses seeking to improve cash flow by securing funds against outstanding customer invoices. Key features include the assignment of accounts receivable, which establishes the factor as the absolute owner, and provisions for the collection of these receivables. Users are instructed to fill in specific details such as names, addresses, and percentages in designated sections throughout the form. Utility of this form is significant for attorneys who may draft or review these agreements, partners and owners who manage business finances, associates who facilitate operational processes, paralegals who assist in documentation, and legal assistants who ensure compliance with contractual obligations. It’s particularly beneficial for businesses operating on credit sales. Given its complexities, this form also includes clauses addressing credit risk, warranty of assignment, and termination rights, making it a comprehensive tool for managing financial relationships in business transactions.