Factoring Agreement Document For Payment Agreement In Tarrant

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

Description

The Factoring Agreement Document for Payment Agreement in Tarrant outlines the relationship between a factor and a client regarding the sale and assignment of accounts receivable. This legally binding document allows the client, a business engaged in credit sales, to receive immediate funds by selling its future receivables to the factor. Key features include the assignment of accounts receivable without recourse, terms for invoicing and customer notifications, and the acceptance of credit risks by the factor—except for accounts deemed client risk. Filling instructions emphasize providing accurate details about the parties involved and completing various sections pertaining to credit approval, purchase price calculations, and contract obligations. The document serves multiple purposes, particularly for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in corporate finance and credit management. They can utilize this agreement to facilitate liquidity for businesses and ensure compliance with regulations. It is crucial for the target audience to understand the potential disputes resolution process and the limitations of liability covered in the agreement, enabling informed decision-making.