Accounts Receivable Contract With Customer In Illinois
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Customer in Illinois serves as a legal agreement between a seller and a buyer regarding the sale of accounts receivable. Key features of this contract include the seller's representation of outstanding accounts, the inclusion of supporting documentation (Exhibit 'A'), provisions for payment contingencies, and the terms of recourse. The contract ensures that both parties understand the risks associated with sold accounts, with clauses that allow for inspection and due diligence prior to closing the deal. Filling and editing instructions emphasize the importance of careful completion, ensuring all necessary information is included, and confirming compliance with Illinois laws. Use cases for this form are particularly relevant for attorneys, partners, owners, associates, paralegals, and legal assistants who deal with financial transactions involving accounts receivable. The contract facilitates clarity in the transaction, protecting the interests of both buyer and seller while providing a structured approach for handling defaults.
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