Receivable Contract With Nike In Illinois
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable Contract with Nike in Illinois is a formal agreement outlining the terms under which a seller assigns their accounts receivable to a buyer, specifically tailored for transactions involving Nike. Key features include the seller's obligation to provide all pertinent details about the accounts listed in Exhibit "A", including the total balances, account origins, and the status of payments. It clarifies that no future obligations exist for the accounts and that they are free from any disputes, counterclaims, or security interests unless otherwise specified. Furthermore, it establishes the conditions of recourse for the buyer, allowing them to reconvey accounts to the seller in cases of default. The contract includes a due diligence period for the buyer to inspect the accounts, ensuring satisfaction before finalization. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form for efficiently transferring accounts receivable, ensuring compliance with Illinois law and protecting their interests during financial transactions.
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