Statement Of Account Or Accounts In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00400
Format:
Word;
Rich Text
Instant download
Description
The Statement of Account or Accounts in Philadelphia serves as a crucial legal document for the assignment of accounts receivable, conveying rights and interests from the assignor to the assignee. It details that the assignor confirms the authenticity of the assigned accounts, which must represent valid transactions where goods or services have been delivered. Included in the form is an attached Exhibit 'A', outlining the balance of accounts, begin date, and account debtor information. Key representations made by the assignor include that the accounts are free from contingencies related to future deliveries and that no contested payments exist unless specified. Additionally, all payments received post-assignment date must be forwarded to the assignee, ensuring a clear transfer of rights. This document is flexible, allowing for recourse options and the ability to repurchase accounts in default. It is essential for attorneys, partners, owners, associates, paralegals, and legal assistants involved in managing accounts receivable, providing a streamlined process for transferring financial interests with legal protection.
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