Accounts Receivable Contract With Payment Processing In North Carolina
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Payment Processing in North Carolina is designed to facilitate the sale and assignment of accounts receivable from a seller to a buyer. This form outlines the rights and responsibilities of both parties regarding the accounts being sold. Key features include provisions for the accurate listing of accounts, representations by the seller regarding the condition and status of these accounts, and specifications on recourse conditions for account defaults. Additionally, it provides a due diligence period for the buyer to inspect the accounts before finalizing the sale. Filling instructions emphasize the importance of completely filling out the attached exhibit detailing the accounts, including balances and any existing liens. Particular attention should be given to the representations section to ensure legal compliance. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions, as it helps establish clear terms and protections related to the sale of accounts receivable. Use cases include businesses seeking to improve cash flow through the sale of outstanding invoices or creditors wanting to secure payments from accounts.
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