Agreement Receivable Statement With Text In San Bernardino

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

Description

The Agreement Receivable Statement with text in San Bernardino outlines the formal arrangement between a factoring agent (the Factor) and a seller (the Client) concerning the assignment of accounts receivable. This document serves a crucial role for businesses that operate on credit by facilitating the immediate availability of funds through the sale of receivables. Key features include the assignment of rights to receivables, credit approval processes, and the responsibilities of each party in managing customer accounts. Filling out the form requires entering specific details such as names, dates, and the percentage of commissions. Editing or modifying the terms is permissible, but all changes need to be documented in writing and signed by both parties. Additionally, the Agreement encompasses provisions for risk management, governing law, and dispute resolution through arbitration, making it particularly pertinent for legal professionals. This form is beneficial to attorneys, partners, and paralegals as it provides a structured methodology for securing financing and managing credit risks, while ensuring compliance with legal standards. It helps legal assistants and associates in executing their roles efficiently by simplifying communication between involved parties and fostering a clearer understanding of their rights and obligations.