Factoring and Security Agreement with Full Recourse | Canada
Purchase the accounts receivable of a Canadian business with this Factoring and Accounts Receivable Security Agreement with Full Recourse.
- Under this Agreement (also called a debt purchase contract), a company needing cash for operations sells its accounts receivable to a factor (buyer) for an immediate cash injection, at a discounted rate off the face value of the accounts.
- The buyer has full recourse against the seller for the full amount of any receivable which is not paid or disputed by a customer, together with interest on unpaid accounts.
- The template is provided in MS Word format and is fully editable to meet your needs.
- This is a Canadian legal form which can be used in most provinces and territories.
Last Updated: 23-January-2021