Accounts Receivable Contract Format In Massachusetts
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract format in Massachusetts is a legal document that facilitates the sale of accounts receivable between a seller and a buyer. This contract outlines the rights and interests of both parties regarding the assigned accounts, detailed in an attached Exhibit "A". Key features include the seller's representations about the accuracy of the accounts, the outstanding balances, and the absence of contingent payments or conflicting claims. Additionally, it specifies whether the accounts are sold with or without recourse, allowing buyers to manage risks associated with potential defaults. Users are instructed to fill in relevant details, such as dates and parties involved, and ensure that all terms are clearly understood before signing. For the target audience, this form is vital as attorneys, partners, owners, associates, paralegals, and legal assistants can utilize it to structure transactions efficiently, protect client interests, and mitigate risks inherent in selling receivables. Understanding the specific use cases of this form can guide legal professionals in advising clients on best practices and regulatory compliance.
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