Accounts Receivable Contract Formula In Washington
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract Formula in Washington serves as a legal framework for the sale of accounts receivable between a seller and a buyer. This document outlines the rights and obligations of both parties regarding the transfers of the accounts listed in an attached exhibit. Key features include seller representations about the nature of the accounts, warranties against contingent payments, and clauses addressing any defenses or offsets against the accounts. The contract also specifies whether the sale is with or without recourse, which affects the seller's liability on defaulted accounts. Additionally, buyers are granted a timeframe to inspect the accounts before finalizing the agreement. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to facilitate the transfer of receivables while ensuring compliance with applicable laws. It helps in managing credit risk and provides clarity on responsibilities, making it essential for routine financial transactions in business operations.
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