Factoring Contract

The bank _______________, in presence of ______________, hereinafter referred to as The Factor, on the one hand, and ______________, in presence of _______________, acting on basis of Statute of the ______________, hereinafter referred to as The Supplier, on the other hand, have concluded the present contract to make factoring transaction against following invoices: _____________________________________.

2. In accordance with the present contract The Supplier cedes to The Factor his rights to demands from the customer payments against listed above invoices.

3. The Factor reimburses to The Supplier part of the sums of the invoices on total amount of ___________ USD and after remittance arrived from the customer transfers to The Supplier the balance of the sum paid for shipped cargo total amount of _____________ USD.

4. The Supplier pays to The Factor _____________ USD for his service against the present contract. …