Receivable Forward Contract In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable forward contract in Chicago is a legal document that facilitates the sale of accounts receivable between a Seller and a Buyer. Key features of this contract include the Seller's assurance that all accounts are legitimate, with attached details about their status and value. The document outlines the rights and obligations of both parties, including potential recourse provisions if accounts default. It allows for due diligence checks by the Buyer within a specified period to ensure satisfaction with the accounts being sold. The contract is structured to comply with Illinois state law, ensuring its legality and enforceability. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured format for account sales, minimizes disputes through clear representations, and offers a professional framework for asset liquidation. By utilizing this contract, legal professionals can streamline transactions involving accounts receivable while protecting their clients' interests.
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