Agreement Receivable Statement With Text In Phoenix

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

Description

The Agreement Receivable Statement with Text in Phoenix outlines a formal arrangement between a Factor and a Client concerning the assignment of accounts receivable. It allows the Client to sell its receivables to the Factor, providing needed funds while transferring the risk of credit loss. Key features include the assignment of ownership of receivables, credit approval processes, and the requirement for invoice management, including specific notifications to customers regarding payment to the Factor. The document emphasizes that the Factor assumes credit risks on accepted accounts while delineating the responsibilities of both parties regarding record-keeping and communication. Filling and editing instructions suggest careful completion of all required sections, including the names of involved parties, dates, and financial figures. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who assist businesses in managing cash flow and establishing clear terms for transferring receivables. Professionals in these roles can use this agreement to facilitate financing arrangements, manage collections, and provide guidance on compliance with the terms therein.