Agreement Accounts Receivable With Credit Card In Queens

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

Description

The Agreement accounts receivable with credit card in Queens is a detailed legal document that governs the sale and assignment of accounts receivable between a Factor and a Client. It outlines the responsibilities of both parties, including the acceptance of accounts receivable by the Factor and the Client's provision of merchandise sales on credit. Key features include provisions for credit approval, the assumption of credit risks, and procedures for invoicing customers. Users are instructed to complete necessary entries and maintain records accordingly. Important considerations involve the Client's solvency, the power of attorney granted to the Factor, and the requirement for monthly profit and loss statements. This Agreement is particularly useful for attorneys, partners, and owners of businesses seeking to secure funding through receivables. Associates, paralegals, and legal assistants benefit by understanding the form’s implications on credit management and legal compliance. Overall, it offers a structured approach to managing accounts receivable transactions within the credit card framework in Queens.