Factoring Agreement Meaning With Tamil With Example In Phoenix

Category:

Contracts - Factoring

State:

Multi-State

City:

Phoenix

Control #:

US-00037DR

Format:

Instant download

Description

A factoring agreement is a financial arrangement where a business sells its accounts receivable to a factoring company to obtain immediate cash. In Tamil, it can be understood as 'வழங்கல் ஒப்பந்தம்,' which facilitates liquidity for businesses by allowing them to convert credit sales into cash. For example, in Phoenix, a small retailer might use a factoring agreement to sell their unpaid invoices to a financial institution to gain quick funds for buying inventory. Key features of this document include 'assignment of accounts receivable,' 'credit approval,' and 'purchase price' terms, each outlining the responsibilities and rights of both parties. Filling out this agreement involves providing specific business details, client information, and terms of sale, while editing focuses on customizing provisions relevant to the unique business needs. Use cases for this agreement are significant for attorneys, partners, owners, associates, paralegals, and legal assistants involved in commercial transactions, helping them ensure proper legal procedures while facilitating business financing.

Difference between factoring and assignment

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FAQ

A factoring agreement involves three key parties: The business selling its outstanding invoices or accounts receivable. The factor, which is the company providing factoring services. The company's client, responsible for making payments directly to the factor for the invoiced amount.

Who Are the Parties to the Factoring Transaction? Factor: It is the financial institution that takes over the receivables by way of assignment. Seller Firm: It is the firm that becomes a creditor by selling goods or services. Borrower Firm: It is the firm that becomes indebted by purchasing goods or services.

A factoring relationship involves three parties: (i) a buyer, who is a person or a commercial enterprise to whom the services are supplied on credit, (ii) a seller, who is a commercial enterprise which supplies the services on credit and avails the factoring arrangements, and (iii) a factor, which is a financial ...

FACTORING IN A CONTINUING AGREEMENT - It is an arrangement where a financing entity purchases all of the accounts receivable of a certain entity.

Factor expressions, also known as factoring, mean rewriting the expression as the product of factors. For example, 3x + 12y can be factored into a simple expression of 3 (x + 4y). In this way, the calculations become easier. The terms 3 and (x + 4y) are known as factors.