Receivable Contract With Nike In Clark

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

Description

The Receivable Contract with Nike in Clark serves as a formal agreement between a seller and buyer regarding the sale of accounts receivable. Key features of this contract include the selling of all rights, title, and interest in listed accounts, along with a declaration of the account details in Exhibit 'A'. The seller must ensure that the accounts are free of contingent payments and existing disputes, thus offering assurance to the buyer about the validity of the accounts. An inspection period is provided for the buyer to evaluate the accounts and cancel the contract if unsatisfied, promoting transparency in the transaction. The assignment can be made with or without recourse, providing flexibility depending on the parties' agreement. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form valuable for managing debt transfers efficiently and ensuring compliance with state laws regarding accounts receivable transactions. This form acts as a safeguard for all parties involved, clearly outlining obligations and rights while promoting fair dealings in the sale of business accounts.