Accounts Receivable Contract Format In Michigan
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract format in Michigan is designed for the sale of outstanding accounts, providing a clear structure for both the Seller and Buyer. The form outlines the rights and responsibilities concerning the accounts being sold, including details on the invoices and any payments due. Key features include the Seller's representation of account accuracy, the requirement for an attached exhibit listing account details, and provisions for recourse or non-recourse sales. Additionally, the form allows for a due diligence period, during which the Buyer can inspect accounts and cancel the contract if unsatisfied. It's crucial that all parties understand the terms laid out in the agreement, including the implications of any contingencies and defenses related to the accounts. This contract is particularly useful for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants as it provides a formal framework for transactions involving the sale of accounts receivable, enhancing legal clarity and business efficiency. Proper filling and editing instructions are essential for compliance and to protect both parties’ interests.
Free preview
