Factoring Purchase Agreement With Monthly Payments In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Factoring Purchase Agreement with Monthly Payments in Wake is designed to facilitate the transfer of accounts receivable from a client to a factor, enabling the client to obtain immediate funding. This agreement outlines the assignment of accounts receivable, specifying that the factor assumes ownership and can collect on these debts. Key features include provisions for credit approval, handling of returned merchandise, and duties for both parties regarding documentation and payment terms. Users must provide accurate information and adhere to specified credit limits. The form is particularly useful for businesses seeking liquidity through selling receivables, as it streamlines cash flow management. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to structure financial agreements, ensuring proper legal compliance and protecting their clients’ interests. It's important for professionals to ensure clarity in their communications and documentation as they facilitate these arrangements.
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FAQ
The factoring agreement will also include representations that each factored account is bona fide and represents indebtedness incurred by the customer for goods actually sold and delivered to the customer; that there are no setoffs, offsets, or counterclaims against the account; that the account does not represent a ...
