General Assignment of Accounts Receivable

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This General Assignment of Accounts Receivable as Security is between an assignee and assignor who assigns security in accounts receivables. This agreement can easily be tailored to fit your unique situation.

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This General Assignment of Accounts Receivable as Security is from an assignor to an assignee. Under this assignment the assignor assigns and transfer debts and claims of money due from accounts receivable to assignee. It also sets forth that assignee will not be liable for failure to collect on assigned property. A written General Assignment of Accounts Receivable as Security will be useful in the event of disagreements or misunderstandings between the parties.

This General Assignment of Accounts Receivable as Security sets forth the following:
  • Parties: The names of the assignor and assignee;
  • Security: The identity of the accounts receivable or other property assigned to assignor;
  • Signatures: The assignor must date and sign this assignment in the presence of a witness.

Protect yourself and your rights by using our attorney-prepared up-to-date forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. General Assignment of Accounts Receivable as Security
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
General Assignment of Accounts
Receivable as Security

 

 
 
1.   For valuable consideration the undersigned hereby assigns and transfers to Name of Assignee (Person Receiving Assignment) (the "Assignee") all debts, accounts, claims, moneys and choses in action which now are or which may at any time hereafter be due or owing to or owned by the undersigned, and also all securities, bills, notes and other documents now held or owned or which may be hereafter taken, held or owned by the undersigned or anyone on behalf of the undersigned in respect of the said debts, accounts, claims moneys and choses in action or any part thereof, and also all books and papers recording, evidencing or relating to said debts, accounts, claims, moneys and choses in action or any part thereof (all of the foregoing being herein called the "Assigned Property") as a general and continuing collateral security for payment of all existing and future indebtedness and liability of the undersigned to the Assignee wheresoever and howsoever incurred and any ultimate unpaid balance thereof, and as a first and prior claim upon the Assigned Property.
 
2.   The Assignee may collect, realize, sell or otherwise deal with the Assigned Property or any part thereof in such manner, upon such terms and conditions and at such time or times as may seem to it advisable and without notice to the undersigned (except as otherwise required by any applicable law), and may charge on its own behalf and pay to others reasonable sums for expenses incurred and for services rendered (expressly including legal advice and services) in or in connection with collecting, realizing, selling or obtaining payment of the Assigned Property and may add the amount of such sums to the indebtedness of the undersigned.
 
3.   The Assignee shall not be liable or accountable for any failure to collect, realize, sell or obtain payment of the Assigned Property or any part thereof and shall not be bound to institute proceedings for the purpose of collecting, realizing or obtaining payment of the same or for the purpose of preserving any rights of the Assignee, the undersigned or any other person, firm or corporation in respect of the same.
 
4.   The Assignee may grant extensions of time and other indulgences, take and give up securities, accept compositions, grant releases and discharges and otherwise deal with the undersigned, debtors of the undersigned, sureties and others and with the Assigned Property and other securities as the Assignee may see fit without prejudice to the liability of the undersigned or the Assignee's right to hold and realize this security.
 
5.   All moneys collected or received by the undersigned in respect of the Assigned Property shall be received as trustee for the Assignee and shall be forthwith paid to the Assignee.
 
 
 
 
6.   All moneys collected or received by the Assignee in respect of the Assigned Property (whether by virtue of paragraph 5 hereof or otherwise) may be applied on account of such parts of the indebtedness and liability of the undersigned as to the Assignee deems best or in the discretion of the Assignee may be released to the undersigned, all without prejudice to the Assignee's claims upon the undersigned.
 
7.   The undersigned shall from time to time forthwith on request furnish to the Assignee in writing all information requested relating to the Assigned Property and the Assignee shall be entitled from time to time to inspect the aforesaid securities, bills, notes, books, papers and other documents or take temporary custody thereof and for such purposes the Assignee shall have access to all premises occupied by the undersigned.
 
8.   The undersigned shall from time to time forthwith on the Assignee's request do, make and execute all such financing statements, further assignments, documents, acts, matters and things as may be required by the Assignee of or with respect to the Assigned Property or any part thereof or as may be required to give effect to these presents, and the undersigned hereby constitutes and appoints the Assignee the true and lawful attorney of the undersigned irrevocable with full power or substitution to do, make and execute all such statements, assignments, documents, acts, matters or things with the right to use the name of the undersigned whenever and wherever it may be deemed necessary or expedient.
 
9.   The provisions hereof shall enure to the benefit of the successors and assigns of the Assignee and shall be binding upon the respective heirs, executors, administrators, successors and assigns of the undersigned.
 
 
WITNESS the hand and seal of the undersigned this Date of Assignment.
 
 
 
 
 
 
Witness
 
Name of Assignor (Person making Assignment)
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28618
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
General Assignment of Accounts
Receivable as Security

 

 
 
1.   For valuable consideration the undersigned hereby assigns and transfers to Name of Assignee (Person Receiving Assignment) (the "Assignee") all debts, accounts, claims, moneys and choses in action which now are or which may at any time hereafter be due or owing to or owned by the undersigned, and also all securities, bills, notes and other documents now held or owned or which may be hereafter taken, held or owned by the undersigned or anyone on behalf of the undersigned in respect of the said debts, accounts, claims moneys and choses in action or any part thereof, and also all books and papers recording, evidencing or relating to said debts, accounts, claims, moneys and choses in action or any part thereof (all of the foregoing being herein called the "Assigned Property") as a general and continuing collateral security for payment of all existing and future indebtedness and liability of the undersigned to the Assignee wheresoever and howsoever incurred and any ultimate unpaid balance thereof, and as a first and prior claim upon the Assigned Property.
 
2.   The Assignee may collect, realize, sell or otherwise deal with the Assigned Property or any part thereof in such manner, upon such terms and conditions and at such time or times as may seem to it advisable and without notice to the undersigned (except as otherwise required by any applicable law), and may charge on its own behalf and pay to others reasonable sums for expenses incurred and for services rendered (expressly including legal advice and services) in or in connection with collecting, realizing, selling or obtaining payment of the Assigned Property and may add the amount of such sums to the indebtedness of the undersigned.
 
3.   The Assignee shall not be liable or accountable for any failure to collect, realize, sell or obtain payment of the Assigned Property or any part thereof and shall not be bound to institute proceedings for the purpose of collecting, realizing or obtaining payment of the same or for the purpose of preserving any rights of the Assignee, the undersigned or any other person, firm or corporation in respect of the same.
 
4.   The Assignee may grant extensions of time and other indulgences, take and give up securities, accept compositions, grant releases and discharges and otherwise deal with the undersigned, debtors of the undersigned, sureties and others and with the Assigned Property and other securities as the Assignee may see fit without prejudice to the liability of the undersigned or the Assignee's right to hold and realize this security.
 
5.   All moneys collected or received by the undersigned in respect of the Assigned Property shall be received as trustee for the Assignee and shall be forthwith paid to the Assignee.
 
 
 
 
6.   All moneys collected or received by the Assignee in respect of the Assigned Property (whether by virtue of paragraph 5 hereof or otherwise) may be applied on account of such parts of the indebtedness and liability of the undersigned as to the Assignee deems best or in the discretion of the Assignee may be released to the undersigned, all without prejudice to the Assignee's claims upon the undersigned.
 
7.   The undersigned shall from time to time forthwith on request furnish to the Assignee in writing all information requested relating to the Assigned Property and the Assignee shall be entitled from time to time to inspect the aforesaid securities, bills, notes, books, papers and other documents or take temporary custody thereof and for such purposes the Assignee shall have access to all premises occupied by the undersigned.
 
8.   The undersigned shall from time to time forthwith on the Assignee's request do, make and execute all such financing statements, further assignments, documents, acts, matters and things as may be required by the Assignee of or with respect to the Assigned Property or any part thereof or as may be required to give effect to these presents, and the undersigned hereby constitutes and appoints the Assignee the true and lawful attorney of the undersigned irrevocable with full power or substitution to do, make and execute all such statements, assignments, documents, acts, matters or things with the right to use the name of the undersigned whenever and wherever it may be deemed necessary or expedient.
 
9.   The provisions hereof shall enure to the benefit of the successors and assigns of the Assignee and shall be binding upon the respective heirs, executors, administrators, successors and assigns of the undersigned.
 
 
WITNESS the hand and seal of the undersigned this Date of Assignment.
 
 
 
 
 
 
Witness
 
Name of Assignor (Person making Assignment)
 

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