Account Receivable Sales Formula In Nassau
Category:
State:
Multi-State
County:
Nassau
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Contract for the Sale of Accounts Receivable is a legally binding document in Nassau that facilitates the sale of accounts receivable from a seller to a buyer. This form outlines key provisions such as the seller's warranties regarding the accounts, including confirmation of their legitimacy and that no payments depend on future services. It includes an attached exhibit detailing each account's balance and relevant dates. Key features of the form include provisions for recourse, allowing the buyer to reconvey accounts back to the seller if defaults occur, and a due diligence period during which the buyer can inspect the accounts before finalizing the purchase. This contract also specifies that any collected funds post-agreement date will be transferred to the buyer. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form for streamlining asset transactions, ensuring proper documentation for accounts receivable sales, and minimizing potential disputes or issues with account collectability. By using this form, legal professionals can provide their clients with a clear structure for selling accounts, mitigating risks associated with unsecured debts.
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