Merchant Cash Advance Agreement (USA)
Price $25.00
Document Id : 491
Are you in the business of making cash advances to US merchants against future credit card receivables? Easily write up your customer contracts with this template Merchant Cash Advance Agreement, for use in the United States.
Provisions of the Agreement include the following:
- The merchant sells to the cash advance company all of its right in a percentage of its future credit card sales for an immediate cash injection, until a specified amount has been paid.
- The purchase and sale of the credit card receivables constitutes a sale of accounts under the Uniform Commercial Code, which vests full ownership in the cash advance company. The merchant has no right to repurchase or resell the receivables.
- The merchant will authorize the credit card company to pay the credit card sales directly to the cash advance company until the specified amount is paid.
- The merchant also grants the cash advance company a security interest in its accounts, inventory, assets, property, all future receivables, and the proceeds thereof.
- The agreement also contains a Personal Guaranty form, to be given by the principal(s) of the merchant, who agree(s) to assume all of the merchant's obligations under the agreement.
- Buy the form template once, use it as often as you like.
This
USA Merchant Cash Advance Agreement template is a downloadable and fully editable Microsoft Word document.
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