Accounts Receivable Contract With Credit Card In New York
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Credit Card in New York is a formal agreement between a seller and a buyer regarding the sale of accounts receivable. This contract allows the seller to transfer ownership of their outstanding accounts, represented in an attached exhibit, to the buyer. Key features include the seller's representation that all accounts listed are valid, that products or services have been delivered, and that there are no outstanding disputes. Users must ensure accurate information is provided in the exhibit, including account balances and debtor details. The contract allows buyers a set period for due diligence and inspection of accounts, enabling them to cancel the agreement if unsatisfied. The contract can be structured as a sale with or without recourse, affecting the seller's liability for defaulted accounts. This form caters primarily to attorneys, partners, owners, associates, paralegals, and legal assistants who require a reliable instrument for the sale of receivables, ensuring both parties understand their rights and obligations under New York law.
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