This form is a type of asset-financing arrangement in which a company uses its receivables (money owed by customers) as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. The age of the receivables have a large effect on the amount a company will receive. The older the receivables, the less the company can expect.
This type of financing helps companies free up capital that is stuck in accounts receivables. Accounts receivable financing transfers the default risk associated with the accounts receivables to the financing company. This transfer of risk can help the company using the financing to shift focus from trying to collect receivables to current business activities.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Oregon Financing Agreements between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles are legal contracts that outline the terms and conditions of lending and financial transactions between a dealer and a credit corporation. These agreements allow dealers to obtain financing for their wholesale operations while providing the credit corporation with security interest in accounts and general intangibles. The main objective of an Oregon Financing Agreement is to establish a mutually beneficial relationship between the dealer and the credit corporation, ensuring smooth financial operations for both parties involved. These agreements specify the rights, obligations, and responsibilities of both the dealer and the credit corporation, as well as the terms and conditions under which lending and financing transactions will take place. There are various types of Oregon Financing Agreements between a dealer and a credit corporation based on the specific requirements and nature of the wholesale financing. Some common types include: 1. Traditional Financing Agreement: This is the standard agreement that outlines common terms and conditions for wholesale financing transactions. It typically includes clauses related to loan amount, interest rates, repayment schedules, security interest, default consequences, and dispute resolution. 2. Revolving Line of Credit Agreement: This type of financing agreement provides the dealer with a pre-approved credit line that can be utilized for multiple financing needs. It allows the dealer to make repeated withdrawals and repayments within the defined credit limit. 3. Floor Plan Financing Agreement: Specifically designed for vehicle or equipment dealers, this type of agreement provides financing to stock inventory. The credit corporation holds security interest in the dealer's inventory, which serves as collateral for the loan. 4. Non-Recourse Financing Agreement: Under this agreement, the credit corporation assumes the risk of non-payment by the dealer's customers. In case of default, the credit corporation can only seek recourse from the accounts and general intangibles and not from the dealer themselves. 5. Conditional Sales Contract: While not strictly a financing agreement, it is often utilized in conjunction with a financing arrangement. This agreement outlines the terms of sale, including the payment schedule, security interest, and consequences of default. In summary, Oregon Financing Agreements between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles are essential legal documents that enable dealers to obtain much-needed financing for their wholesale operations while ensuring that the credit corporation has adequate security for the loan. Various types of financing agreements exist, each tailored to meet specific financing requirements and circumstances. These agreements provide clarity, protection, and structure to the financial relationship between the dealer and the credit corporation.Oregon Financing Agreements between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles are legal contracts that outline the terms and conditions of lending and financial transactions between a dealer and a credit corporation. These agreements allow dealers to obtain financing for their wholesale operations while providing the credit corporation with security interest in accounts and general intangibles. The main objective of an Oregon Financing Agreement is to establish a mutually beneficial relationship between the dealer and the credit corporation, ensuring smooth financial operations for both parties involved. These agreements specify the rights, obligations, and responsibilities of both the dealer and the credit corporation, as well as the terms and conditions under which lending and financing transactions will take place. There are various types of Oregon Financing Agreements between a dealer and a credit corporation based on the specific requirements and nature of the wholesale financing. Some common types include: 1. Traditional Financing Agreement: This is the standard agreement that outlines common terms and conditions for wholesale financing transactions. It typically includes clauses related to loan amount, interest rates, repayment schedules, security interest, default consequences, and dispute resolution. 2. Revolving Line of Credit Agreement: This type of financing agreement provides the dealer with a pre-approved credit line that can be utilized for multiple financing needs. It allows the dealer to make repeated withdrawals and repayments within the defined credit limit. 3. Floor Plan Financing Agreement: Specifically designed for vehicle or equipment dealers, this type of agreement provides financing to stock inventory. The credit corporation holds security interest in the dealer's inventory, which serves as collateral for the loan. 4. Non-Recourse Financing Agreement: Under this agreement, the credit corporation assumes the risk of non-payment by the dealer's customers. In case of default, the credit corporation can only seek recourse from the accounts and general intangibles and not from the dealer themselves. 5. Conditional Sales Contract: While not strictly a financing agreement, it is often utilized in conjunction with a financing arrangement. This agreement outlines the terms of sale, including the payment schedule, security interest, and consequences of default. In summary, Oregon Financing Agreements between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles are essential legal documents that enable dealers to obtain much-needed financing for their wholesale operations while ensuring that the credit corporation has adequate security for the loan. Various types of financing agreements exist, each tailored to meet specific financing requirements and circumstances. These agreements provide clarity, protection, and structure to the financial relationship between the dealer and the credit corporation.
