Products tagged with 'receivables loan agreement'

Make a cash advance to a US merchant against its future credit card receivables with this template USA Merchant Cash Advance Agreement.

• 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.
• This template is a downloadable and fully editable Microsoft Word document.
• Intended to be used only in the United States.

Does your firm make cash advances to merchants against future credit card receivables? Sign up clients with this Merchant Cash Advance Application Form for the USA.

• The information required in the 3-page application form includes:
  • information about the merchant's business,
  • information about the owners of the business,
  • financial and sales information,
  • disclosure about liens, lawsuits or judgments against the business.
• This is a downloadable and fully editable Microsoft Word document. Buy the form once, use it as often as required.
• Intended for use in the United States only.

Document your security interest in a borrower's property with this Accounts Receivable Security Agreement template for Canadian lenders.

• The Agreement is part of the documentation that the borrower must provide to the lender, to secure a loan or line of credit.
• The Agreement grants the lender a security interest in all of the borrower's present and future personal property including inventory, equipment, accounts receivable and book debts.
• The form is governed by Canadian laws and can be used in any province or territory which has Personal Property Security Act legislation.
• Buy and download the template in MS Word format. Other formats available on request.

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.

Purchase accounts receivable from Canadian companies with this Factoring and Accounts Receivable Security Agreement with Limited Recourse.

• Under this Agreement (also called a debt purchase contract), a company needing cash for operations sells its accounts receivable to a factor for an immediate cash injection, at a discounted rate off the face value of the accounts.
• The factor has only limited recourse against the seller for the amount of any receivable which is not paid or disputed by a customer, plus interest on unpaid accounts, up to a predetermined limit.
• The factor will also pay the seller any excess funds received by the factor on customer accounts.
• This legal contract template is available in MS Word format.
• Governed by Canadian laws and intended for use only in Canada.

Hire a broker to locate potential factoring clients for you with this USA Broker Agreement for Factoring.

Parties to the Agreement

The parties to the Broker Agreement are (i) a factoring agency that purchases accounts receivable from businesses, at a discount, and (ii) a broker who will act as an independent contractor, identifying and referring prospective clients to the agency.

Compensation

The Broker's only compensation will be a commission, calculated as a percentage of the monthly gross factoring fees, including late charges, for each of the clients referred by Broker and accepted by the agency.

No Obligation to Purchase

The factoring agency is under no obligation to purchase accounts from any client referred to it by the Broker.

Waiver of Jury Trial

The parties agree to waive trial by jury in the event of any legal action arising out of the Agreement or other agreement between the parties, or the acts or omissions of the parties or their employees or agents.

Format and Legal Jurisdiction

This Broker Agreement for Factoring template is provided in MS Word format and is reusable and fully editable to meet your needs. It is intended to be used only in the United States.