Factoring Agreement General Formula In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Agreement general formula in Pima defines the relationship between a 'Factor' and a 'Client' for the assignment of accounts receivable. This agreement allows the Client, typically engaged in credit sales, to obtain immediate funds by selling its receivables to the Factor. Key features include the assignment of accounts receivable, sales and delivery protocols, credit approval processes, assumption of credit risks, and specified purchase price terms. Users will find filling and editing instructions straightforward, as the form includes placeholders for essential information like names, dates, and percentages. This agreement is particularly useful for attorneys, partners, and business owners who need a clear legal framework for managing accounts receivable. Paralegals and legal assistants can assist in drafting and reviewing the document, ensuring compliance with legal standards. Overall, the form serves a critical function in facilitating financial transactions and mitigating risks associated with credit sales.
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FAQ
FACTORING IN A CONTINUING AGREEMENT - It is an arrangement where a financing entity purchases all of the accounts receivable of a certain entity.
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 ...
