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Financing Agreement between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles

State:
Multi-State
Control #:
US-02971BG
Format:
Word; 
Rich Text
Instant download

Description Wholesale Agreement Template

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.

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Financing Agreement Form Other Form Names

Corporation Intangibles   Credit Accounts Form   Credit Wholesale Form   Agreement Credit Corporation   Agreement Security Form   Agreement Security Interest   Agreement Dealer Form  

Dealer Agree Pay FAQ

Loans from banks or other institutional lenders are always made using a number of documents, two of which are a promissory and security agreement. In general, the promissory note is your written promise to repay the loan and a security agreement is used when collateral is given for the loan.

Section 9-503 of the UCC provides various, more specific rules regarding the sufficiency of a debtor's name on a financing statement.However, unlike with a security agreement, on a financing statement it is acceptable to use a supergeneric description of collateral.

Security agreements and financing statements are often confused with one another. The primary difference is that the financing statement largely serves as notice that a creditor possesses security interest in the debtor's assets or property. The financing statement is not a contract.

By filing a financing statement with the appropriate public office. by possessing the collateral. by controlling the collateral; or. it's done automatically upon attachment of the security interest.

A security agreement, in the law of the United States, is a contract that governs the relationship between the parties to a kind of financial transaction known as a secured transaction.

By filing a financing statement with the appropriate public office. by possessing the collateral. by controlling the collateral; or. it's done automatically upon attachment of the security interest.

The UCC establishes two main ways to perfect a security interest in goods: Filing an appropriate UCC financing statement (this is the typical way). Possession of the goods by the secured party (generally uncommon).

The financing statement describes the types of collateral or personal property that is pledged against the value of the loan, and it identifies the parties that have an interest or stake in the collateral if the debtor defaults.

A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.

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Financing Agreement between Dealer and Credit Corporation for Wholesale Financing with Security interest in Accounts and General Intangibles