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Instructions and Help about Get and Sign State of Iowa Creditor/Assignee Notification Form

here we're going to be looking at secured boring where your sign accounts receivable as collateral here for a loan or for a note and what is this assigning of accounts receivable here so bank B the creditor requires corporation a to debtor to designate or assign or pledge receivable as collateral as security for a loan so if the loan is not paid when do bank B the creditor can convert these receivables or collateral to cash and collect on the receivables here now for example here on three 1x1 corporation a debtor provides or assigns three hundred and fifty thousand dollars here of its accounts receivable to Bank B the creditor as collateral for a 250 thousand dollar note that they're going to receive here from Bank B so corporation a will continue to collect the accounts receivable the account debtors are not not notified of this arrangement here and Bank B assesses a finance charge here one percent of the accounts receivable and interest on this note here of twelve percent per year he


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