Selling Receivables Is Called In San Jose

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

Description

Selling receivables in San Jose is formalized through the Contract for the Sale of Accounts Receivable. This document outlines the agreement between a Seller and a Buyer regarding the sale of all Seller's accounts as listed in an attached exhibit. Key features include representations made by the Seller about the accounts, such as their authenticity, payment status, and any potential defenses or offsets. The form also specifies the conditions under which the accounts are sold, either with or without recourse, impacting the Seller's liability for defaulted accounts. Additionally, it allows the Buyer a certain period to inspect the accounts and opt out if unsatisfied. This contract is essential for attorneys, partners, owners, associates, paralegals, and legal assistants involved in commercial transactions, as it provides a clear framework for transferring accounts receivable, ensuring both parties are protected and informed of their rights and responsibilities. Properly filling out and editing this form requires careful attention to the details of the accounts being sold and compliance with applicable state laws.