Agreement General Form With Collateral In Pima

State:
Multi-State
County:
Pima
Control #:
US-00037DR
Format:
Word; 
Rich Text
Instant download

Description

A factor is a person who sells goods for a commission. A factor takes possession of goods of another and usually sells them in his/her own name. A factor differs from a broker in that a broker normally doesn't take possession of the goods. A factor may be a financier who lends money in return for an assignment of accounts receivable (A/R) or other security.

Many times factoring is used when a manufacturing company has a large A/R on the books that would represent the entire profits for the company for the year. That particular A/R might not get paid prior to year end from a client that has no money. That means the manufacturing company will have no profit for the year unless they can figure out a way to collect the A/R.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

The expression “collateral purpose” used in proviso to Section 49 of Registration Act implies that content of such a document can be used for purpose other than for which it has been executed or entered into by the parties or for a purpose remote to the main transaction.

Collateral is a term used in kinship to describe kin, or lines of kin, that are not in a direct line of descent from an individual. Examples of collateral relatives include siblings of parents or grandparents and their descendants (uncles, aunts, and cousins).

Collateral form (plural collateral forms) (linguistics) A synonymous but not identical, coexisting form (variation) of a word, such as an accepted alternative spelling.

Collateral documents include any documents granting a security interest in collateral by the borrower, parent or subsidiary in favor of the lender and all other documents required to be executed or delivered pursuant to those documents. Collateral documents do not include guaranties.

GC or general collateral is a set or basket of security issues which trade in the repo market at the same or a very similar repo rate, which is called the GC repo rate. GC securities can therefore be substituted for one another without changing the repo rate much, if at all.

There are two types of repo transactions: special repos and general collateral repos. In special repos, the party delivering the security must deliver a specific asset (with a specific ISIN code), while in general collateral repos (GC repos) he/she can choose among a basket of possible assets.

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Agreement General Form With Collateral In Pima