Selling Receivables Is Called In King
Category:
State:
Multi-State
County:
King
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
Selling receivables is called in King refers to a legal contract designed for the sale of accounts receivable, allowing sellers to transfer their rights to collect on these debts to buyers. This form outlines essential terms, including the identification of accounts being sold, representations by the seller about the accounts, and conditions related to payment and recourse. It serves as a vital tool for attorneys, partners, owners, associates, paralegals, and legal assistants who need to ensure clear agreements on the transfer of receivables. Key features include provisions for inspecting accounts and a specified timeline for buyer acceptance or cancellation. The form also addresses liability by detailing conditions of recourse and seller obligations. Fillers and editors should ensure accurate filling of seller and buyer details, account listings, and any stipulations regarding payment contingencies. The form is particularly useful in business transactions where liquidity is necessary, allowing businesses to convert receivables into cash efficiently while managing risk. Users are encouraged to review state law requirements, as the agreement is subject to state jurisdiction.
Free preview
