Accounts Receivable Contract With Nike In San Bernardino

• State: Multi-State
• Category: Loans and Lending - Accounts Receivables
• County: San Bernardino
• Control #: US-00402
• Format: Word; Rich Text

Description

The Accounts Receivable Contract with Nike in San Bernardino establishes a comprehensive agreement between a seller and buyer regarding the sale of outstanding accounts. The seller agrees to transfer all rights, titles, and interests in specified accounts, as delineated in an attached exhibit. Key features include the seller's representations about the legitimacy of the accounts, ensuring all payments are not contingent on future goods or services. The seller also provides assurances regarding any potential defenses or claims associated with the accounts. The buyer is entitled to a due diligence period to inspect and assess the accounts before finalizing the contract. This agreement can be structured with or without recourse to the seller, indicating the buyer's rights upon default. Legal professionals such as attorneys, partners, and paralegals can utilize this form to facilitate secure transactions involving accounts receivable, ensuring compliance with state laws while protecting clients from potential liabilities. This form serves as a crucial tool for managing financial interests, allowing legal assistants to effectively document and oversee the transfer of accounts in business dealings.