Travis Texas Modelo General de Contrato de Factoring - Cesión de Cuentas por Cobrar - General Form of Factoring Agreement - Assignment of Accounts Receivable

• Category: Contratos - Factoring
• State: Multi-State
• County: Travis
• Control #: US-0270BG
• Format: Word

Description

This form is a factoring agreement for the assignment of accounts receivable. Factoring is a financial transaction in which a firm sells its accounts receivable invoices to a third party called a factoring firm at a discount, so that it receives immediate money to continue its business. The factoring firm pays a percentage of the invoices immediately. Firms often factor receivables to improve their cash flow. Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is a legal document that outlines the terms and conditions for a factoring arrangement between a business (the assignor) and a financial institution (the factor). In this agreement, the assignor transfers its accounts receivable to the factor in exchange for immediate cash flow. Keywords: Travis Texas, General Form, Factoring Agreement, Assignment, Accounts Receivable. The Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is designed to protect the rights and interests of both parties involved in the factoring transaction. It specifies the obligations and responsibilities of the assignor and the factor, ensuring transparency and clarity in the agreement. Some key points covered in this general form of factoring agreement include: 1. Parties involved: Clearly identifies the assignor and the factor, including their legal names, addresses, and contact information. It also states the relationship between the parties, highlighting the assignment of accounts receivable. 2. Assignment of accounts receivable: Outlines the process by which the assignor transfers its accounts receivable to the factor. This includes the schedule of assigned accounts and the method of delivering relevant documentation, such as invoices and supporting documents. 3. Purchase price and funding: Specifies the purchase price or advance rate determined by the factor for the assigned accounts receivable. It outlines the funding process, including the frequency and method of payment to the assignor. 4. Reserve account: Explains the creation of a reserve account by the factor to cover potential bad debts, disputes, or adjustments related to the assigned accounts receivable. 5. Collection and administration: Describes the responsibilities of the factor in collecting payments from the account debtors and administering the assigned accounts. It may include provisions for notification and authorization procedures in case of disputes or adjustments. 6. Representations and warranties: Sets forth the assignor's guarantees regarding the validity, accuracy, and legitimacy of the assigned accounts receivable. This ensures that the factor can rely on the assignor's statements when purchasing the accounts. 7. Termination and default: Outlines the events and conditions that may lead to termination or default of the agreement. It covers the obligations of both parties in such instances, including the return of any outstanding payments or obligations. Different types of Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable may exist based on the specific terms, conditions, or industry needs. These variations can include modifications in rates, reserve requirements, termination clauses, and other relevant provisions tailored to meet the unique requirements of the assignor and the factor. In conclusion, the Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is a comprehensive legal document that establishes a factoring arrangement between a business and a financial institution. It protects the rights and interests of both parties involved and ensures a smooth and transparent factoring transaction.

Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is a legal document that outlines the terms and conditions for a factoring arrangement between a business (the assignor) and a financial institution (the factor). In this agreement, the assignor transfers its accounts receivable to the factor in exchange for immediate cash flow. Keywords: Travis Texas, General Form, Factoring Agreement, Assignment, Accounts Receivable. The Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is designed to protect the rights and interests of both parties involved in the factoring transaction. It specifies the obligations and responsibilities of the assignor and the factor, ensuring transparency and clarity in the agreement. Some key points covered in this general form of factoring agreement include: 1. Parties involved: Clearly identifies the assignor and the factor, including their legal names, addresses, and contact information. It also states the relationship between the parties, highlighting the assignment of accounts receivable. 2. Assignment of accounts receivable: Outlines the process by which the assignor transfers its accounts receivable to the factor. This includes the schedule of assigned accounts and the method of delivering relevant documentation, such as invoices and supporting documents. 3. Purchase price and funding: Specifies the purchase price or advance rate determined by the factor for the assigned accounts receivable. It outlines the funding process, including the frequency and method of payment to the assignor. 4. Reserve account: Explains the creation of a reserve account by the factor to cover potential bad debts, disputes, or adjustments related to the assigned accounts receivable. 5. Collection and administration: Describes the responsibilities of the factor in collecting payments from the account debtors and administering the assigned accounts. It may include provisions for notification and authorization procedures in case of disputes or adjustments. 6. Representations and warranties: Sets forth the assignor's guarantees regarding the validity, accuracy, and legitimacy of the assigned accounts receivable. This ensures that the factor can rely on the assignor's statements when purchasing the accounts. 7. Termination and default: Outlines the events and conditions that may lead to termination or default of the agreement. It covers the obligations of both parties in such instances, including the return of any outstanding payments or obligations. Different types of Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable may exist based on the specific terms, conditions, or industry needs. These variations can include modifications in rates, reserve requirements, termination clauses, and other relevant provisions tailored to meet the unique requirements of the assignor and the factor. In conclusion, the Travis Texas General Form of Factoring Agreement — Assignment of Accounts Receivable is a comprehensive legal document that establishes a factoring arrangement between a business and a financial institution. It protects the rights and interests of both parties involved and ensures a smooth and transparent factoring transaction.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.