Invoice Factoring

De T asked:


NOW THIS DEED WITNESSETH

In consideration of the mutual promises and covenants herein explicitly contained the parties hereby agree as follows:

1.BINDING EFFECT OF AGREEMENT

This agreement shall be binding on both parties.

2.EXPLOITATION OF RECORDING / NON – RECORDING BASED ARTISTIC ACTIVITIES.

The artiste shall retain the copyright to sell all recordings done by him whether in public performance or studio recordings.

This ARTISTE shall offer his exclusive services as a performing artiste to the MANAGEMENT and the MANAGEMENT shall make performance, appearance and endorsement services of the ARTISTE available to patrons worldwide on the terms and conditions approved by the artiste.

3.CONTRACT PERIOD

The ARTISTE undertakes and agrees to:

i.Have the MANAGEMENT represent him in ALL performance/appearance related negotiations (formal/informal/promotional) and service delivery.
ii.Work exclusively with the MANAGEMENT in this regard over a period of 24 months (2 years). This period shall run from ……of November, 2007 to ….. October, 2009.

4.TERMS OF DISSOLVEMENT

MANAGEMENT will automatically terminate this agreement if the following occurs:

i.In case of the Artiste being unable to function productively in his capacity as an Artiste.
ii.If the artiste acts in a manner contrary to the Management’s accepted standard of Public decorum. The artiste shall be deemed to have breached this clause if he:

a)Channel any of his protest to the clients, promoters or media rather than to the Management.
b)Fails consistently to be punctual to business meetings, press conferences, events, sound checks, rehearsal times etc.
c)Willingly breaches the rules and regulations concerning public facilities such as hotels, airplanes, airport lounges etc.
iii.If the Artiste repeatedly fail to conduct himself in a manner professional enough to encourage sustainable viability as a brand.
iv.If the artiste breaches one or more of the terms of this agreement.

The ARTISTE can terminate the contract if there is evidence of gross professional misconduct on the part of MANAGEMENT especially in case of financial impropriety or the non-performance of the terms of this agreement.

5.OPTION PERIOD

Three months before the expiration of this contract the ARTISTE has the right to exercise the option of to either terminate the present agreement by giving written notice or to prolong the duration the present contract. This is however subject to the prior notification and settlement of any outstanding payments owed to the MANAGEMENT or to the ARTISTE.

6.EXCLUSIVITY OF THE ARTISTE

The artiste hereby warrants and represents that:

i.he shall not during the period of this agreement grant anybody except the MANAGEMENT the rights granted to the MANAGEMENT hereunder (save for agreements already in place between the ARTISTE and third parties prior to the commencement of this agreement which said agreement shall continue to operate but shall not be renewed without the consent of the MANAGEMENT).
ii.He shall assist in/or be involved in performances with other artistes if he so desires but has the responsibility to inform the MANAGEMENT to enable them protect its business interest and image effectively even in the course of such activities.

7.SERVICES

The MANAGEMENT shall

i.Assist the Artiste’s label in the preparatory work and other stages of his recordings
ii.Oversee the planning of publicity. Distribution and marketing campaigns.
iii.Co-ordinate tours schedule and produce his performances.
iv.Handing the day-to-day task of managing the artiste’s career.
v.Act as booking and talent agents.
vi.Acting as liaison for communication between the artiste and the rest of the public.

8.PROMOTION/ADVERTISEMENT AND MARKETING

The MANAGEMENT shall:

i.Take co-ordination responsibility for the packaging and marketing of the ARTISTE within the duration of the contract period.
ii.Represent the Artiste’s interest in managerial capacity worldwide.

The ARTISTE shall

i.Sight and approve all packaging concepts and promo materials before the management make use of them
ii.Take financial responsibility for the packaging, promotion and marketing activities of the MANAGEMENT.

9.MODE AND TERMS OF PAYMENT
i. The MANAGEMENT is entitled to 20% of the gross earnings of the ARTISTE on appearance, performance and endorsement fees excluding gifts in kind.
ii.The MANAGEMENT will receive its part of the payment as soon as the service for which the artiste is contracted has been delivered and full payment has been made.

10.QUALITY CONTROL

The MANAGEMENT has the responsibility to ensure and guarantee control on all of Artiste’s public appearances, speeches, comments and performances.

11.ENTIRE AGREEMENT

This agreement consist the entire agreement between the parties and shall only be modified or added to in writing

For Commercial Finance Loans – Accounts Receivable Factoring * Invoice Factoring * Small Business Factoring * Accounts Receivable Financing * Discount Factoring * Commercial Equipment Leasing * Construction Equipment Leasing * Business Equipment Loans * Gym Equipment Leasing * Restaurant Equipment Leasing – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

Boris Tomson asked:


Accounts Related articles :http://finance-info.synthasite.com

An accounts receivable manual provides accountants with direction and guidance regarding accounting transactions, procedures and reports that should be standard and uniform throughout any business or organization. It is an official document used for business accounting policies and is usually housed in a company’s accounting department.

An accounts receivable manual helps a company keep a system in place to handle accounts receivable in a timely and efficient manner. It explains what accurate data entry is, and how it is key to managing point of sales and payments. It explains how to reconcile accounts receivable ledgers to accounts receivable accounts. It also gives times lines for when transactions should occur, i.e. weekly, monthly, etc.http://finance-info.synthasite.com

Accounts receivable manuals explain how to match beginning accounts receivable totals to the final accounts receivable totals, and how to post payments in a general ledger. It also outlines accounting staff responsibilities for internal control purposes. For example staff that is responsible for the management or collection of account receivable must not handle or be responsible for the processing of any receipts. Payments received in error or paid in excess of the invoice total will be refunded to the payer. No refund will be made if other invoices are outstanding on the customers account and attempts should be made to negotiate with the customer to apply any excess payment to outstanding invoices.

The manual assists accounting personnel in every accounting aspect of the business that they need to know. It gives day-to-day information to help keep a business running smoothly Accounts receivable manuals are the foundations of any good business.

Accounts Receivable Factoring provides detailed information on accounts receivable factoring, accounts receivable collection, accounts receivable factoring companies, accounts receivable financing and more. Accounts Receivable Factoring is affiliated with Accounts Receivable Collection.http://finance-info.synthasite.com



For Commercial Finance Loans – Accounts Receivable Financing * Business Equipment Leasing * PO Finance * Commercial Property Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

Gregg Elberg asked:


The Merriam-Webster Online Dictionary defines “secret” as:

“1 a: kept from knowledge or view : hidden b: marked by the habit of discretion : closemouthed c: working with hidden aims or methods : undercover d: not acknowledged : unavowed e: conducted in secret 2: remote from human frequentation or notice : 3: revealed only to the initiated : esoteric 4: designed to elude observation or detection 5: containing information whose unauthorized disclosure could endanger national security”.

As used in this article, secret means: revealed only to the initiated; kept from knowledge or view; and designed to elude observation or detection.

The first secret- “revealed only to the initiated” relates to the fact that most schools, even business schools, do not teach the subject of factoring or purchase order financing; most banks do not offer these financing facilities as products. Therefore, it is not surprising that many businesses are unaware of the cash potential that lays dormant in their business invoices.

Let’s suppose you own a small to medium business and you depend on customers paying invoices within a 45-60 day period for your working capital. In essence, you are extending credit like a bank to your customers. For that period of time your cash is tied up in your invoices- your accounts receivable. This limits growth and may create problems regarding meeting payroll and paying your suppliers. Accounts receivable financing is the process of selling your invoices for cash as soon as they are issued which allows you to make more effective use of your assets. Purchase order financing is the process of obtaining a third party commitment to pay your suppliers as soon as products are received by your clients (in advance of payment by you or your client), based on the surety of an accounts receivable financing arrangement.

All businesses are limited in their growth and profits by the amount of capital and cash flow available to take advantage of business opportunities. The availability of virtually unlimited cash creates a powerful paradigm for potential growth. It also can expand your thinking about what business is possible and how you might go out and develop new business.

The second secret- “kept from knowledge or view” relates to the practice of non-notification factoring. Some business people are concerned that working with a factor, an accounts receivable financing company, may not be viewed favorably by their customers. In many cases it is possible to structure a transaction legally so that the accounts receivable financing is transparent to the ultimate customer.

The third secret- “designed to elude observation or detection” has to do with your business plan and how the way you think about the world can affect your success. In 2006 Prime Time Productions produced a film and a book called “The Secret”. The film dramatically describes the “Law of Attraction” which asserts that people’s feelings and thoughts attract real events in the world into their lives. Can your feelings and thoughts attract more business and success? Is the visualization of what you want an aid for manifesting your business goals? Is The Secret “just a new spin on the very old (and decidedly not secret” The Power of Positive Thinking (a book by Norman Vincent Peal written in 1952) wedded to ‘ask and you shall receive’ -as opined by Karin Klein, editorial writer for the Los Angeles Times? Did The Secret fail to discover the real roots of powerful thinking?

In the book, “The Diamond Cutter”, Geshe Michael Roach examines The Budda on Managing your Business and your Life. Roach graduated from Princeton University with honors, studied the ancient wisdom of Tibet and traveled to the Tibetan Lamas at the seat of His Holiness, the Dalai Lama. In 1983 he took the vows of a Buddhist monk.

His teacher encouraged him to enter the world of business. Mr. Roach choose the diamond business. He hid the fact that he was a monk and maintained a façade of a normal American businessman on the outside. The business developed from nothing to a one hundred million dollar per year business.

The original book, “The Diamond Cutter” is the “oldest dated book in the world that was printed rather than being written out by hand. The British Museum holds a copy that is dated A.D 868.” It is a written record of Buddha teachings from over 2,500 years ago. In brief, the central principles are: 1) business should be successful and make money in a clean and honest way; 2) you should enjoy the money and stay in good health; and 3) you should be able to look back ay your business and say your years of doing business had some meaning leaving some good marks in the world. I highly recommend “The Diamond Cutter” vs. “The Secret”.

The bottom line: accounts receivable financing and purchase order financing may be the secrets to your business’ financial success. If you read and follow the principles of “The Diamond Cutter” you can expand your opportunities for exponential growth based on the 2500 year old teachings of Buddha, as explained by Mr. Roach.

Copyright © 2007 Gregg Financial Services

www.greggfinancialservices.com



For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

Jane asked:


Im starting a business that sells all natural products at trade shows and I plan on providing wholistic care (aromatherapy and reflexology treatments) from my home.I think insurance would be cheaper to have it as one business but not sure how that would work.Any one know please help.

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Kris Koonar asked:


Accounts receivable financing is another name for factoring. It simply means selling your slow paying invoices at a discount to a factor in return for immediate cash. Factoring improves your cash flow and greatly simplifies your accounting process because once you factor your receivables i.e. sell your invoices, the factor becomes the owner and the invoices then reflect on the factor’s books of accounts. The collection of payment related to the invoices is also taken care of by the factor and you are free to concentrate on growth and expansion of your business.

Accounts receivable financing is nothing new and has been around for a long time. Earlier it was only big and reputable companies who could take advantage of this type of financing. When growing competition and stiffer lending norms made it difficult for medium and small companies to obtain financing by traditional methods through banks and other lending institutions, the financial industry gradually extended this type of financing to small and medium companies also.

Necessity of accounts receivable financing is experienced by all businesses which sell their products/services on credit and are constrained to wait for payments for 30, 60 or even 90 days. This leads to a negative cash flow situation for these businesses and they start experiencing severe cash crunch because they need to meet regular and essential business expenses like payroll, purchases, taxes, etc. In many cases such problems can be so severe that they may put a company out of business.

Bank financing is hard to come with many formalities to be completed and hosts of documents and reports to be submitted before a case for financing can even be considered for approval. However, all this still does not guarantee approval when the bank looks into their business records or past performance that has not been satisfactory.

Accounts receivable financing approval is a complete turn around. It does not operate on such principles. In fact the credit history of the seller of the invoices is of little consequence, if at all. Factors take into account the creditworthiness of the clients/customers who have to make payments against invoices. If the customer has a good reputation for timely payments then accounts receivable financing approval sails through even for those with a low credit rating/history.

Required documentation is simple and easy to greatly simplify the financing procedure and makes factoring finance approval opportunities very high. Factors also maintain their own databases of credit worthy companies and help their clients in researching companies to get to know their reputation before they decide to do business with them.

Accounts receivable financing offers other advantages which bank finances do not. It takes much less time for accounts receivable financing to be approved, to be set up and financed. A typical time frame for setting up an accounts receivable account with a factor would be just seven to ten business days. Once an account is set up, it merely takes 12 to 24 hours to credit an account against a factored invoice. The 1.5 to 3 percent factor’s fee is also nominal when you consider the enormous advantages available to a business to continue its normal business activities which otherwise may grind to a halt due to cash flow problems.



For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.