New Hampshire General Form of Factoring Agreement - Assignment of Accounts Receivable

• Category: Contracts - Factoring
• State: Multi-State
• Control #: US-0270BG
• Format: Word; Rich Text

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. New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable is a legal document used in the state of New Hampshire to facilitate the process of factoring accounts receivable. Factoring refers to a financial transaction where a company sells its accounts receivable (unpaid customer invoices) to a third party (the factor) at a discount in exchange for immediate cash. This general form of factoring agreement serves as a template that outlines the agreement between the parties involved in the transaction, namely the company (the assignor) and the factor (the assignee). It includes various terms and conditions related to the assignment of accounts receivable, ensuring clarity and protection for all parties. The agreement covers key aspects such as the identification of the accounts receivable being assigned, the purchase price or discount rate applied to the receivables, and the rights and responsibilities of both the assignor and the assignee. It also addresses the rights and obligations concerning the collection of payments, handling of disputes or chargebacks, and the nature of recourse available in case of non-payment by the account debtor. New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable is designed to accommodate various industries and sectors, including manufacturing, services, and wholesale. It can be customized to meet specific business needs and can be used by factors, financial institutions, or even individual investors engaged in factoring transactions. Different types or variations of the New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable may include modifications for specific industries, additional clauses to address unique circumstances, or variations in the payment terms and discount rates applied. These variations are generally tailored to suit the specific requirements of the individuals or entities involved in the factoring transaction. Keywords: New Hampshire, General Form, Factoring Agreement, Assignment of Accounts Receivable, factoring, legal document, financial transaction, accounts receivable, third party, assignor, assignee, terms and conditions, purchase price, discount rate, rights and responsibilities, collection of payments, disputes, chargebacks, recourse, industries, sectors, manufacturing, services, wholesale, customization, specific business needs, factors, financial institutions, individual investors, variations.

New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable is a legal document used in the state of New Hampshire to facilitate the process of factoring accounts receivable. Factoring refers to a financial transaction where a company sells its accounts receivable (unpaid customer invoices) to a third party (the factor) at a discount in exchange for immediate cash. This general form of factoring agreement serves as a template that outlines the agreement between the parties involved in the transaction, namely the company (the assignor) and the factor (the assignee). It includes various terms and conditions related to the assignment of accounts receivable, ensuring clarity and protection for all parties. The agreement covers key aspects such as the identification of the accounts receivable being assigned, the purchase price or discount rate applied to the receivables, and the rights and responsibilities of both the assignor and the assignee. It also addresses the rights and obligations concerning the collection of payments, handling of disputes or chargebacks, and the nature of recourse available in case of non-payment by the account debtor. New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable is designed to accommodate various industries and sectors, including manufacturing, services, and wholesale. It can be customized to meet specific business needs and can be used by factors, financial institutions, or even individual investors engaged in factoring transactions. Different types or variations of the New Hampshire General Form of Factoring Agreement — Assignment of Accounts Receivable may include modifications for specific industries, additional clauses to address unique circumstances, or variations in the payment terms and discount rates applied. These variations are generally tailored to suit the specific requirements of the individuals or entities involved in the factoring transaction. Keywords: New Hampshire, General Form, Factoring Agreement, Assignment of Accounts Receivable, factoring, legal document, financial transaction, accounts receivable, third party, assignor, assignee, terms and conditions, purchase price, discount rate, rights and responsibilities, collection of payments, disputes, chargebacks, recourse, industries, sectors, manufacturing, services, wholesale, customization, specific business needs, factors, financial institutions, individual investors, variations.