Accounts Receivable Contract With Nike In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Nike in Salt Lake is a formal agreement between a seller and buyer regarding the sale of outstanding accounts receivable. The seller agrees to transfer their rights in specified accounts, including all associated invoices and future payments. Key features include representations from the seller about the accounts, such as verifying that products or services have been delivered, ensuring no contingent payments, and confirming no existing disputes or claims against the accounts. The form allows for recourse options, where the buyer may reconvey accounts back to the seller under specific terms. There's a due diligence period for the buyer to inspect the accounts, enabling potential cancellation if they find the accounts unsatisfactory. This contract is useful for attorneys, partners, and business owners by providing a clear framework for transferring accounts receivable. Paralegals and legal assistants can utilize this document for drafting and ensuring compliance with state laws, thus easing the sales transaction process while protecting stakeholders' interests.
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FAQ
Nike's accounts payable hit its 5-year low in May 2020 of 2.248 billion. Nike's accounts payable decreased in 2020 (2.248 billion, -13.9%), 2023 (2.862 billion, -14.8%), and 2024 (2.851 billion, -0.4%) and increased in 2021 (2.836 billion, +26.2%) and 2022 (3.358 billion, +18.4%).
Nike's operated at median receivables turnover of 11.6x from fiscal years ending May 2020 to 2024. Looking back at the last 5 years, Nike's receivables turnover peaked in May 2021 at 12.4x. Nike's receivables turnover hit its 5-year low in May 2022 of 10.2x.
