Factoring Agreement Document With Recourse In Travis

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

Description

The Factoring Agreement Document with Recourse in Travis is a structured legal instrument that facilitates the sale of accounts receivable from a seller (Client) to a factor, who provides immediate cash flow in exchange. This agreement stipulates that the factor assumes the credit risk of certain accounts while retaining recourse rights if specific conditions, such as credit limit breaches, occur. Key aspects of the agreement include the assignment of accounts receivable, sales and delivery requirements, credit approval process, and the provisions regarding payment and commissions. The form includes guidelines for proper completion, emphasizing the importance of clear and accurate record-keeping, and the necessity of including all relevant invoice documentation. Users are instructed to ensure adherence to credit limits set by the factor and timely reporting of customer disputes or returns. This document is crucial for attorneys, partners, and legal assistants in corporate financial settings, as it outlines the legal parameters of factoring relationships and protects the interests of all parties involved.