Statement Of Account Example In Michigan

• Category: Loans and Lending - Accounts Receivables
• State: Multi-State
• Control #: US-00400
• Format: Word; Rich Text

Description

The Statement of account example in Michigan serves as a formal document used to assign accounts receivable from one party (the Assignor) to another (the Assignee). This form outlines the transfer of all rights to specified accounts, ensuring that all obligations associated with these accounts are clear. Key features include the verification of outstanding accounts, the provision of an attached exhibit detailing account balances and debtor information, and the assurance that no disputes or payment contingencies exist. Filling instructions advise users to accurately complete all sections, particularly the names of the parties and specific account details. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who deal with financial transactions or require formal documentation of debt assignments. Its utility extends to situations where a business needs to liquidate receivables for cash flow purposes or when transferring ownership of unpaid accounts. By complying with the legal stipulations outlined, users can facilitate smooth transitions of financial responsibilities while minimizing disputes.