Factoring Agreement Editable With Bank In Phoenix

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

Description

The Factoring Agreement Editable With Bank In Phoenix outlines the terms under which a Factor purchases accounts receivable from a Client, enabling the Client to obtain immediate funds against future receivables. Key features include the assignment of accounts receivable, sales and delivery procedures, and credit approvals. The agreement specifies how invoices should be issued, with a clear requirement for notification to customers regarding the assignment of debts to the Factor. It's essential for the Client to maintain detailed records, respond promptly to customer claims, and provide regular financial statements. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who facilitate transactions involving financing and credit management, allowing them to understand clients' rights and obligations under the agreement. It also includes provisions for power of attorney, breach of warranty, and resolution of disputes, which are crucial for ensuring proper execution and risk management. Filling out the form requires careful attention to detail, as specific financial figures and terms must be completed accurately for the agreement to be binding.