Accounts Receivable Contract Format In North Carolina
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract format in North Carolina serves as a binding agreement between a seller and a buyer for the sale of outstanding accounts receivable. This contract outlines the seller's agreement to transfer all rights, titles, and interests to the buyer, as detailed in an attached exhibit. Key features include representations from the seller regarding the existence and validity of the accounts, their current status, and any liabilities attached to them. The contract stipulates due diligence rights for the buyer, allowing for inspection of the accounts within a specified time frame. Additionally, it explores whether the sale is with or without recourse, affecting the seller's liability in the event of account defaults. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions, as it ensures legal compliance and protects the interests of both parties. By providing clear terms and conditions, the contract mitigates risks related to account defaults and strengthens the transactional process in business dealings.
Free preview
