Agreement General Form For Payment In Pima

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

Description

The Agreement general form for payment in Pima is designed as a comprehensive framework for the assignment of accounts receivable between a seller (Client) and a factor (Factor). It facilitates the purchase of receivables to improve the Client's cash flow while providing the Factor with rights to collect these receivables directly. Key features include the assignment of accounts receivable, protocols for sales and delivery of merchandise, credit approval processes, and assumptions of credit risks. The form emphasizes clear obligations such as the provision of monthly financial statements and the need for prior Factor approval on sales. Users are instructed to fill in specific details such as names, addresses, and percentages related to commissions, ensuring smooth operation. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who manage corporate finance strategies, as it outlines legal protections and processes that must be adhered to in commercial transactions, thus minimizing disputes and enhancing compliance.