Form Assignment Accounts For Sale In Wake

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

Description

The Form Assignment Accounts for Sale in Wake is a comprehensive agreement designed for the sale and assignment of accounts receivable between a factor and a seller. This form streamlines financial transactions by allowing the seller to convert their credit sales into immediate cash flow through the factor's purchase of accounts receivable. Key features of this form include stipulations for the assignment of existing and future receivables, the process for sales and deliveries of merchandise, and the necessity of credit approval from the factor's credit department. It outlines the responsibilities and rights of both parties, including the factor's assumption of credit risk and the seller's warranties regarding the validity of the accounts. Filling out this form requires attaching supporting documents such as invoices and potentially compliance with specific credit limits set by the factor. This form is particularly useful for attorneys, partners, and business owners who seek efficient funding solutions, as well as paralegals and legal assistants who will facilitate the agreement's completion and ensure compliance with legal requirements.