Receivable Contract With Nike In Fulton

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

Description

The Receivable Contract with Nike in Fulton serves as a formal agreement between a seller and a buyer regarding the sale of accounts receivable. The document outlines the seller's commitment to transfer ownership of specified accounts, as detailed in an attached exhibit, and comprises essential clauses that define the seller's representations and warranties about the accounts. Key features include the seller's assurance that all accounts are valid, the necessity for the buyer to complete due diligence within a specified timeframe, and provisions for recourse or non-recourse sales of accounts. Additionally, the contract mandates that payments received post-sale be directed to the buyer and includes an option for the buyer to cancel if dissatisfied. This contract utility is significant for attorneys, partners, owners, associates, paralegals, and legal assistants who may engage with it for business transactions involving account sales, debt collection, or financial arrangements with Nike. It facilitates clarity in transactions and can help mitigate risks associated with accounts receivable, thereby safeguarding business interests in legal contexts.