Agreement Form Assignment Contract For Lending Money In Queens

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

Description

The Agreement Form Assignment Contract for Lending Money in Queens is designed for businesses seeking to utilize their accounts receivable as a means of securing funds from factors. This contract establishes the terms under which the factor purchases the client's accounts receivable, providing immediate cash flow while transferring the credit risk associated with those receivables. Key features include detailed sections on the assignment of accounts receivable, credit approval processes, purchase price calculations, and the handling of returned merchandise. Filling and editing the form requires users to clearly define the parties involved and the terms specific to their transaction, including commission rates and payment terms. The form can serve various use cases, particularly for attorneys who may draft or review contracts on behalf of clients, partners in businesses who wish to leverage receivables for capital, and paralegals or legal assistants tasked with document preparation. Furthermore, it addresses the financial responsibilities and warranties of both parties, ensuring clear legal protections are in place. This comprehensive form streamlines the process of securing funds against receivables while delineating the rights and obligations of both the factor and the client.