Agreement Accounts Receivable For Cash In Texas

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

Description

The Agreement Accounts Receivable for Cash in Texas is a crucial legal document that facilitates the sale and assignment of receivables from a seller (Client) to a factor (Factor) for immediate cash flow. This agreement outlines essential terms regarding the assignment of accounts receivable without recourse to the Client, specifying that all receivables should be bona fide and arisen from ordinary business activities. It includes provisions for credit approval, assurance of solvency, and responsibilities surrounding sales and deliveries of merchandise. This form is especially beneficial in situations where businesses require quick access to funds without taking on debt. Attorneys, partners, and business owners will appreciate its ability to protect their interests while gaining liquidity, whereas paralegals and legal assistants can use it to ensure proper compliance and documentation processes. The outlined responsibilities concerning collecting accounts and managing disputes also provide clarity, making this document a vital tool for effective financial management within Texas's legal landscape.