Agreement Accounts Receivable With Credit Card Processing In Wake

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

Description

The Agreement Accounts Receivable with Credit Card Processing in Wake outlines the terms under which a factor purchases accounts receivable from a client. This agreement allows businesses to convert their receivables into immediate cash flow, which is particularly useful for companies that require quick funds. Key features include the assignment of receivables as absolute ownership to the factor, credit risk management, provisions for the approval of sales based on customer creditworthiness, and terms regarding the pricing of purchased receivables. Filling and editing the form requires entering detailed information about the client and factor, including names, addresses, and specific financial provisions. Use cases for the target audience, including attorneys, partners, owners, associates, paralegals, and legal assistants, include facilitating business financing, managing cash flow, and structuring payment arrangements correctly. The agreement emphasizes the importance of proper notification to customers regarding the assignment and provides for oversight and inspections by the factor. This structure helps ensure that both parties are protected while engaging in financial transactions involving accounts receivable.