Accounts Receivable Contract With Payment Processing In New York
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Payment Processing in New York provides a structured agreement between a Seller and Buyer for the sale of accounts receivable. It outlines the Seller's commitment to transfer all rights to outstanding accounts, including invoices and associated payments. The contract details Seller representations regarding the accounts' status, such as their being free from contingencies and defenses, ensuring clarity in ownership transfer. A specific timeline is provided for the Buyer to inspect and assess the accounts before finalizing the sale. Key features include the option for sale with or without recourse, detailing the responsibilities of both parties in case of default. The form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions, as it helps protect interests and define liabilities. This contract aids in streamlining payment processes, mitigating risks, and ensuring compliance with New York laws governing such transactions. Completing and editing this form requires attention to detail, particularly in filling in accurate information and alignment with legal standards.
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