Accounts Receivable Contract With Nike In Alameda

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

Description

The Accounts Receivable Contract with Nike in Alameda serves as a formal agreement between a seller and buyer for the sale of accounts receivable. The contract outlines that the seller agrees to transfer all rights and interests in specified accounts listed in an attached exhibit, including any invoices and monetary entitlements. Key features include seller representations regarding the legitimacy of accounts, assurance that payments are not contingent on future deliveries, and the identification of any claims or liens against the accounts. The contract offers a recourse option, allowing the buyer to reconvey accounts to the seller in case of defaults, provided appropriate collection efforts are made. Users have a designated inspection period to assess the accounts and can cancel the agreement if unsatisfied. This contract is particularly useful for attorneys, partners, and owners looking to ensure a clear transfer of receivables, while paralegals and legal assistants can utilize it to facilitate due diligence and compliance with state laws. Overall, this form not only protects the interests of both parties but ensures that the transfer process adheres to legal standards.