Selling Receivables Is Called In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
Selling receivables is called in Cuyahoga refers to a legal process where a seller transfers their rights to collect on accounts receivable to a buyer. This form, known as the Contract for the Sale of Accounts Receivable, outlines essential provisions such as the agreement to sell, representations by the seller regarding the accounts, and the conditions under which the sale occurs. Key features include the inclusion of an exhibit listing all accounts being sold, the obligations of the seller to deliver funds received post-sale, and stipulations for repurchase of defaulted accounts. Users are allowed a specific timeframe to inspect the accounts, ensuring transparency and satisfaction before finalization. The form must be filled out accurately, paying attention to details in the attached exhibit and key representations. It's primarily useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions or collections. This form helps to clearly establish terms of sale, protect both parties, and provide a framework for legal recourse if necessary, making it a crucial tool in financial law contexts.
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