Form Assignment Account Without Confirmation In Wake

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

Description

The Form Assignment Account Without Confirmation in Wake is a legal document that enables a seller (Client) to assign its accounts receivable to a factor (Factor) for immediate funding. This form is beneficial for businesses seeking liquidity by selling their customer invoices, allowing them to maintain operations without waiting for customers to pay. Key features of the form include the purchase and acceptance of accounts receivable without recourse, credit approval processes, and the assignment of rights under the client’s contracts. Users must fill in essential details such as the parties' names, addresses, and specific terms related to the assignment of receivables. It is crucial to follow the outlined instructions for notification to customers and ensure invoices are marked as required by the Factor. Additionally, the agreement emphasizes the assumption of credit risks by Factor, client’s adherence to credit limits, and the consequences of defaults. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions or corporate law, as it provides a structured way to handle accounts receivable assignments legally and efficiently.