Accounts Receivable Contract With Nike In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Nike in Oakland is a legally binding document that formalizes the sale of all outstanding accounts of a seller to a buyer. The seller agrees to transfer their rights in the accounts, detailed in an attached exhibit, which includes invoices and expected payments. Key features include representations by the seller about the accounts, inspection rights for the buyer, and provisions for recourse or non-recourse sales. The seller must confirm that the account is free from disputes and that no payments are contingent on future services or goods. The buyer has a specified period to inspect the accounts, and if unsatisfied, can cancel the contract without obligation. This contract is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants involved in commercial transactions, as it provides a clear structure for managing accounts receivable sales. It also ensures legal protections for both parties and establishes a framework for recourse in the event of defaults.
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