Receivable From Sale In Harris

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

Description

The 'Contract for the Sale of Accounts Receivable' is a legal agreement between a Seller and a Buyer that outlines the terms and conditions under which the Seller agrees to transfer all rights and interests in specified accounts receivable to the Buyer. Key features include the Seller's assertion that all accounts are valid, outstanding, and free from liens, as well as details regarding payment conditions and potential contingencies. The form includes a provision for the Buyer to conduct due diligence on the accounts within a specified time frame and offers protections in case of default by the accounts. Additionally, the contract stipulates whether the assignment is with or without recourse against the Seller. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financial transactions, as it provides a clear framework for selling accounts receivable while ensuring compliance with legal standards. Users should ensure they accurately complete all sections, particularly in listing accounts in Exhibit 'A', to prevent disputes. Overall, this form serves as a practical tool for managing receivables effectively in business transactions.